Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Average Recommendation of "Buy" from Analysts

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) has received a consensus rating of "Buy" from the eight analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $14.43.

A number of equities research analysts recently weighed in on CABA shares. Wells Fargo & Company lowered their price target on shares of Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Guggenheim raised their price target on shares of Cabaletta Bio from $23.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Citigroup lowered their price target on shares of Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating for the company in a report on Friday, May 16th. HC Wainwright reaffirmed a "buy" rating and set a $25.00 price target on shares of Cabaletta Bio in a report on Wednesday, June 11th. Finally, UBS Group lowered their price target on shares of Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating for the company in a report on Tuesday, April 1st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its holdings in Cabaletta Bio by 36.5% during the 1st quarter. Acadian Asset Management LLC now owns 682,670 shares of the company's stock worth $942,000 after acquiring an additional 182,406 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Cabaletta Bio in the 1st quarter valued at about $102,000. Almitas Capital LLC acquired a new position in shares of Cabaletta Bio in the 1st quarter valued at about $509,000. Comerica Bank boosted its holdings in shares of Cabaletta Bio by 2,292.1% in the 1st quarter. Comerica Bank now owns 41,599 shares of the company's stock valued at $58,000 after buying an additional 39,860 shares during the period. Finally, Callan Family Office LLC acquired a new position in shares of Cabaletta Bio in the 1st quarter valued at about $58,000.

Cabaletta Bio Price Performance

Cabaletta Bio stock opened at $1.74 on Friday. Cabaletta Bio has a 52-week low of $0.99 and a 52-week high of $8.77. The firm has a fifty day moving average of $1.74 and a 200-day moving average of $1.84. The firm has a market capitalization of $88.29 million, a P/E ratio of -0.69 and a beta of 2.70.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.04). On average, research analysts expect that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Cabaletta Bio Company Profile

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.

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