Cabaletta Bio (NASDAQ:CABA) Upgraded to "Hold" at Wall Street Zen

Key Points

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Cabaletta Bio (NASDAQ:CABA - Get Free Report) was upgraded by analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a report issued on Sunday.

Other equities research analysts also recently issued reports about the stock. Guggenheim raised their price objective on shares of Cabaletta Bio from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Morgan Stanley decreased their target price on Cabaletta Bio from $14.00 to $13.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 24th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $14.00.

Cabaletta Bio Price Performance

NASDAQ:CABA opened at $2.68 on Friday. The company has a market cap of $298.34 million, a P/E ratio of -1.18 and a beta of 3.25. The firm's fifty day moving average price is $2.91 and its two-hundred day moving average price is $2.56. Cabaletta Bio has a one year low of $0.99 and a one year high of $3.78.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last posted its earnings results on Monday, March 30th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.05. As a group, equities research analysts expect that Cabaletta Bio will post -2.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Steven Nichtberger purchased 45,000 shares of the company's stock in a transaction that occurred on Wednesday, January 21st. The stock was acquired at an average price of $2.24 per share, with a total value of $100,800.00. Following the completion of the purchase, the chief executive officer directly owned 1,031,483 shares in the company, valued at $2,310,521.92. This trade represents a 4.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Simon acquired 11,061 shares of the business's stock in a transaction that occurred on Wednesday, January 21st. The shares were purchased at an average cost of $2.28 per share, with a total value of $25,219.08. Following the transaction, the director directly owned 147,205 shares of the company's stock, valued at $335,627.40. This trade represents a 8.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 127,668 shares of company stock valued at $286,211. Company insiders own 11.25% of the company's stock.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new position in shares of Cabaletta Bio in the 4th quarter valued at approximately $34,000. CRA Financial Services LLC boosted its position in shares of Cabaletta Bio by 36.4% during the 3rd quarter. CRA Financial Services LLC now owns 15,000 shares of the company's stock worth $35,000 after acquiring an additional 4,000 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in Cabaletta Bio in the fourth quarter valued at approximately $38,000. Clear Harbor Asset Management LLC bought a new position in Cabaletta Bio in the fourth quarter valued at approximately $43,000. Finally, Jones Financial Companies Lllp acquired a new position in Cabaletta Bio during the third quarter valued at approximately $47,000.

About Cabaletta Bio

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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