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

Key Points

• Analysts give Cabaletta Bio a “Moderate Buy” consensus: Five of seven brokerages rate the stock a buy, while one rates it hold and one sell. The average 12-month price target is $15.33, although recent targets range from $3 to $30.
• Institutional ownership increased: BlackRock initiated a position worth approximately $33.4 million, while Adage Capital, Millennium Management, T. Rowe Price and Woodline Partners also expanded their holdings.
• The stock opened at $2.75 and remains volatile, trading between $1.40 and $4.23 over the past year. Cabaletta reported a quarterly loss of $0.34 per share, beating analysts’ expected loss of $0.37.

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $15.3333.

A number of research firms have weighed in on CABA. Wall Street Zen lowered shares of Cabaletta Bio from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of Cabaletta Bio in a research report on Monday, May 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Cabaletta Bio in a report on Friday, July 17th. Jefferies Financial Group restated a "buy" rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. Finally, Wells Fargo & Company dropped their price target on shares of Cabaletta Bio from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Friday.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CABA. BlackRock Inc. purchased a new position in shares of Cabaletta Bio during the second quarter valued at approximately $33,447,000. Adage Capital Partners GP L.L.C. grew its holdings in Cabaletta Bio by 142.9% during the second quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company's stock worth $13,421,000 after buying an additional 5,195,285 shares in the last quarter. Millennium Management LLC raised its position in Cabaletta Bio by 298.5% in the 4th quarter. Millennium Management LLC now owns 2,736,912 shares of the company's stock valued at $5,994,000 after buying an additional 2,050,099 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Cabaletta Bio by 17.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company's stock valued at $21,590,000 after buying an additional 1,495,768 shares during the last quarter. Finally, Woodline Partners LP raised its position in Cabaletta Bio by 75.2% in the 3rd quarter. Woodline Partners LP now owns 2,135,348 shares of the company's stock valued at $4,997,000 after buying an additional 916,884 shares during the last quarter.

Cabaletta Bio Stock Up 1.5%

Shares of NASDAQ:CABA opened at $2.75 on Friday. Cabaletta Bio has a twelve month low of $1.40 and a twelve month high of $4.23. The stock's 50 day moving average is $2.89 and its 200-day moving average is $3.06. The firm has a market capitalization of $448.39 million, a price-to-earnings ratio of -1.75 and a beta of 3.30.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.03. Equities research analysts anticipate that Cabaletta Bio will post -1.34 earnings per share for the current fiscal year.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company's lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.

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