Analysts Set Cabaletta Bio, Inc. (NASDAQ:CABA) Target Price at $14.43

Key Points

• Cabaletta Bio, Inc. (NASDAQ:CABA) has an average analyst recommendation of "Buy", with eight brokerages covering the company, including six buy ratings and one strong buy rating.
• The company has faced a 3.3% decline in trading, with a current stock price of $1.45, while the average twelve-month price target among analysts is approximately $14.43.
• Cabaletta Bio reported a quarterly loss of ($0.73) EPS, missing the consensus estimate, and analysts forecast an annual EPS of -2.34.

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $14.4286.

A number of analysts have weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $25.00 price target on shares of Cabaletta Bio in a research report on Wednesday, June 11th. Citigroup lowered their price target on Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, Guggenheim upped their price target on Cabaletta Bio from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Thursday, May 15th.

Cabaletta Bio Price Performance

Shares of CABA traded up $0.08 on Friday, reaching $1.53. 765,345 shares of the stock traded hands, compared to its average volume of 1,525,185. The firm has a market cap of $139.48 million, a price-to-earnings ratio of -0.56 and a beta of 2.86. Cabaletta Bio has a 12 month low of $0.99 and a 12 month high of $5.46. The stock's 50-day moving average price is $1.58 and its 200-day moving average price is $1.62.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.02). As a group, equities research analysts forecast that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

A number of institutional investors and hedge funds have recently bought and sold shares of CABA. Wells Fargo & Company MN boosted its stake in Cabaletta Bio by 67.3% in the fourth quarter. Wells Fargo & Company MN now owns 40,412 shares of the company's stock worth $92,000 after purchasing an additional 16,250 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Cabaletta Bio in the fourth quarter worth $522,000. Barclays PLC boosted its stake in Cabaletta Bio by 17.2% in the fourth quarter. Barclays PLC now owns 71,617 shares of the company's stock worth $163,000 after purchasing an additional 10,487 shares in the last quarter. Stifel Financial Corp acquired a new position in Cabaletta Bio in the fourth quarter worth $94,000. Finally, Tudor Investment Corp ET AL acquired a new position in Cabaletta Bio in the fourth quarter worth $47,000.

About Cabaletta Bio

Cabaletta Bio, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.