Cabaletta Bio's (CABA) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Cabaletta Bio (CABA) has received a "sell (D-)" rating from Weiss Ratings, while several other analysts have given it varying ratings, including a "buy" from Jefferies Financial Group.
• During recent trading, CABA shares increased slightly to $2.47, with a 12-month trading range between $0.99 and $5.46.
• The company reported a quarterly loss of ($0.73) EPS, which missed analyst expectations, and projects a year-end EPS of -2.34.

Cabaletta Bio (NASDAQ:CABA - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Several other research analysts have also recently weighed in on the company. Jefferies Financial Group began coverage on Cabaletta Bio in a research note on Friday, October 10th. They set a "buy" rating and a $14.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating and set a $15.00 target price on shares of Cabaletta Bio in a research report on Friday, September 5th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $16.00 price objective on shares of Cabaletta Bio in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $13.44.

Cabaletta Bio Stock Performance

NASDAQ:CABA traded up $0.06 during midday trading on Friday, reaching $2.47. The stock had a trading volume of 1,844,695 shares, compared to its average volume of 5,002,265. Cabaletta Bio has a 12-month low of $0.99 and a 12-month high of $5.46. The firm has a fifty day simple moving average of $2.09 and a two-hundred day simple moving average of $1.75.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.02). On average, sell-side analysts expect that Cabaletta Bio will post -2.34 EPS for the current year.

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of CABA. Bain Capital Life Sciences Investors LLC boosted its holdings in shares of Cabaletta Bio by 250.5% during the second quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company's stock worth $14,709,000 after purchasing an additional 6,916,237 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of 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 valued at $13,421,000 after purchasing an additional 5,195,285 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Cabaletta Bio by 147.4% during the 2nd quarter. Jennison Associates LLC now owns 6,020,167 shares of the company's stock worth $9,151,000 after acquiring an additional 3,586,439 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Cabaletta Bio during the 2nd quarter worth $3,036,000. Finally, Nuveen LLC purchased a new position in shares of Cabaletta Bio during the 1st quarter valued at $602,000.

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.

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