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

Key Points

• Cabaletta Bio has a “Moderate Buy” consensus rating from eight analysts: five buys, one strong buy, one hold and one sell. The average 12-month price target is $15.33.
• CABA opened at $2.91, down 11%, with a market capitalization of approximately $493 million. Its 52-week trading range is $1.65 to $4.23.
• The company reported a quarterly loss of $0.34 per share, beating analysts’ estimate of a $0.37 loss, while several institutional investors—including BlackRock and Renaissance Technologies—recently established or increased positions.

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $15.3333.

A number of brokerages have recently commented on CABA. Wells Fargo & Company dropped their target price on shares of Cabaletta Bio from $4.00 to $3.00 and set an "equal weight" rating on the stock in a report on Friday, August 14th. TD Cowen upgraded shares of Cabaletta Bio to a "strong-buy" rating in a research note on Monday, August 24th. HC Wainwright reissued a "buy" rating and set a $16.00 price target on shares of Cabaletta Bio in a research report on Tuesday, September 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Cabaletta Bio in a research note on Friday, July 17th. Finally, Wall Street Zen lowered shares of Cabaletta Bio from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th.

Cabaletta Bio Stock Down 11.0%

CABA opened at $2.91 on Thursday. The stock has a market cap of $493.36 million, a PE ratio of -1.85 and a beta of 3.27. The business has a 50 day moving average of $2.96 and a 200-day moving average of $3.12. Cabaletta Bio has a 52 week low of $1.65 and a 52 week high of $4.23.

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

Institutional Trading of Cabaletta Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP bought a new stake in Cabaletta Bio during the 2nd quarter valued at about $2,079,000. Blue Owl Capital Holdings LP bought a new position in shares of Cabaletta Bio in the second quarter worth approximately $2,223,000. Renaissance Technologies LLC lifted its stake in shares of Cabaletta Bio by 33.8% in the first quarter. Renaissance Technologies LLC now owns 2,036,663 shares of the company's stock worth $5,479,000 after buying an additional 514,080 shares in the last quarter. BlackRock Inc. bought a new position in shares of Cabaletta Bio in the second quarter worth approximately $33,447,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Cabaletta Bio during the second quarter valued at approximately $566,000.

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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