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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) have received an average rating of "Buy" from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $21.00.

A number of brokerages have recently commented on CABA. UBS Group reduced their target price on shares of Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. HC Wainwright restated a "buy" rating and set a $25.00 target price on shares of Cabaletta Bio in a report on Tuesday, April 1st. Wells Fargo & Company cut their price target on Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Morgan Stanley lowered their price objective on Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 1st. Finally, Guggenheim reaffirmed a "buy" rating and issued a $23.00 target price on shares of Cabaletta Bio in a research note on Tuesday, April 1st.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CABA. LPL Financial LLC lifted its holdings in shares of Cabaletta Bio by 15.6% in the 4th quarter. LPL Financial LLC now owns 42,386 shares of the company's stock worth $96,000 after acquiring an additional 5,716 shares during the last quarter. Intech Investment Management LLC lifted its stake in Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company's stock worth $46,000 after purchasing an additional 5,999 shares in the last quarter. SG Americas Securities LLC lifted its stake in Cabaletta Bio by 23.3% during the fourth quarter. SG Americas Securities LLC now owns 43,259 shares of the company's stock worth $98,000 after purchasing an additional 8,161 shares in the last quarter. Barclays PLC boosted its position in shares of Cabaletta Bio by 17.2% during the fourth quarter. Barclays PLC now owns 71,617 shares of the company's stock worth $163,000 after buying an additional 10,487 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Cabaletta Bio by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 155,174 shares of the company's stock valued at $215,000 after buying an additional 14,026 shares in the last quarter.

Cabaletta Bio Price Performance

CABA stock traded up $0.10 during trading on Monday, hitting $1.35. The stock had a trading volume of 227,595 shares, compared to its average volume of 1,435,942. Cabaletta Bio has a twelve month low of $0.99 and a twelve month high of $13.50. The company's 50-day moving average price is $1.47 and its two-hundred day moving average price is $2.45. The stock has a market capitalization of $68.35 million, a P/E ratio of -0.63 and a beta of 2.44.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its earnings results on Monday, March 31st. The company reported ($0.65) earnings per share for the quarter, meeting the consensus estimate of ($0.65). As a group, sell-side analysts expect that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

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.