Cabaletta Bio, Inc. (NASDAQ:CABA) Stock Has Average Price Target of $15.60 According to Analysts

Key Points

• Analysts give Cabaletta Bio a “Moderate Buy” consensus, with five buy ratings, two strong-buy ratings, one hold, and one sell. The average 12-month price target is $15.60, though recent targets have varied significantly.
• Institutional interest increased in the second quarter, led by BlackRock’s approximately $33.4 million new position and Opaleye Management’s 180% increase in its holdings.
• CABA opened at $1.58, near its 12-month low of $1.32 and well below its $4.23 high. Cabaletta reported a quarterly loss of $0.34 per share, beating analyst estimates of a $0.37 loss, and is developing engineered T-cell therapies for autoimmune diseases.

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) have earned an average rating of "Moderate Buy" from the nine analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $15.60.

CABA has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their target price on Cabaletta Bio from $4.00 to $3.00 and set an "equal weight" rating for the company in a research report on Friday, August 14th. William Blair upgraded shares of Cabaletta Bio to a "strong-buy" rating in a research report on Wednesday, September 23rd. TD Cowen upgraded shares of Cabaletta Bio to a "strong-buy" rating in a research report on Monday, August 24th. HC Wainwright reissued a "buy" rating and set a $16.00 price objective on shares of Cabaletta Bio in a research note on Tuesday, September 1st. Finally, Wall Street Zen cut shares of Cabaletta Bio from a "sell" rating to a "strong sell" rating in a report on Saturday, October 17th.

Hedge Funds Weigh In On Cabaletta Bio

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Cabaletta Bio in the second quarter valued at about $33,447,000. Opaleye Management Inc. increased its holdings in shares of Cabaletta Bio by 180.0% in the second quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company's stock worth $12,016,000 after acquiring an additional 2,483,800 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Cabaletta Bio in the second quarter worth about $2,852,181. Blue Owl Capital Holdings LP bought a new stake in shares of Cabaletta Bio in the second quarter worth about $2,223,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Cabaletta Bio during the second quarter worth about $2,079,000.

Cabaletta Bio Stock Up 4.3%

NASDAQ:CABA opened at $1.58 on Friday. Cabaletta Bio has a 12-month low of $1.32 and a 12-month high of $4.23. The firm has a market capitalization of $268.72 million, a P/E ratio of -1.01 and a beta of 3.48. The stock's fifty day simple moving average is $2.34 and its 200-day simple moving average is $2.85.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($0.37) by $0.03. As a group, equities research analysts expect that Cabaletta Bio will post -1.34 earnings per share for the current year.

About Cabaletta Bio

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with B cell-mediated autoimmune diseases. The company's approach is designed to selectively eliminate disease-causing immune cells and potentially provide durable disease remission rather than relying on continuous immunosuppression.

Its lead investigational product, CABA-201, is an autologous, fully human CD19 chimeric antigen receptor T-cell therapy designed to target and eliminate CD19-positive B cells.

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