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

Key Points

• Cabaletta Bio's stock has been restated with a "sell (D-)" rating by Weiss Ratings, indicating ongoing concerns about its financial performance.
• Despite the negative rating, several analysts also maintain a "buy" or "overweight" recommendation, with a consensus price target averaging $14.50.
• The company's stock price has recently risen by 3.9%, hitting $2.41, after trading volume significantly surpassed its average.

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

Several other equities research analysts have also recently commented on CABA. HC Wainwright reissued a "buy" rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Wednesday, June 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 price target on shares of Cabaletta Bio in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $14.50.

Cabaletta Bio Stock Up 3.9%

CABA traded up $0.09 during trading on Wednesday, hitting $2.41. The company had a trading volume of 3,992,215 shares, compared to its average volume of 1,643,783. The company has a market capitalization of $220.42 million, a PE ratio of -0.89 and a beta of 3.01. Cabaletta Bio has a one year low of $0.99 and a one year high of $5.46. The firm's 50-day moving average price is $1.81 and its 200 day moving average price is $1.65.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CABA. Catalyst Funds Management Pty Ltd acquired a new position in Cabaletta Bio in the 2nd quarter valued at about $32,000. Comerica Bank lifted its holdings in shares of Cabaletta Bio by 2,292.1% during the 1st quarter. Comerica Bank now owns 41,599 shares of the company's stock worth $58,000 after acquiring an additional 39,860 shares during the period. Callan Family Office LLC bought a new stake in shares of Cabaletta Bio during the 1st quarter worth approximately $58,000. Tower Research Capital LLC TRC lifted its holdings in shares of Cabaletta Bio by 695.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 51,036 shares of the company's stock worth $78,000 after acquiring an additional 44,621 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Cabaletta Bio by 357.1% during the 1st quarter. Invesco Ltd. now owns 61,675 shares of the company's stock worth $85,000 after acquiring an additional 48,181 shares during the period.

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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