Cabaletta Bio, Inc. (NASDAQ:CABA) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Cabaletta Bio has a “Moderate Buy” consensus rating from nine analysts, with five buy, two strong-buy, one hold and one sell rating. The average 12-month price target is $15.33.
• CABA opened at $2.00, near its 52-week low of $1.83 and well below its 52-week high of $4.23; its market capitalization is approximately $339 million.
• The clinical-stage biotech reported a quarterly loss of $0.34 per share, beating analyst expectations of a $0.37 loss. Its lead program, CABA-201, is an investigational CAR-T therapy targeting autoimmune diseases.

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) has received a consensus rating of "Moderate Buy" from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $15.33.

A number of brokerages have issued reports on CABA. HC Wainwright reiterated a "buy" rating and issued a $16.00 price target on shares of Cabaletta Bio in a report on Tuesday, September 1st. Wall Street Zen upgraded Cabaletta Bio from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 26th. William Blair raised Cabaletta Bio to a "strong-buy" rating in a report on Wednesday, September 23rd. Wells Fargo & Company decreased their target price on Cabaletta Bio from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Friday, August 14th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Cabaletta Bio in a research note on Friday, July 17th.

Cabaletta Bio Price Performance

CABA stock opened at $2.00 on Monday. Cabaletta Bio has a 1-year low of $1.83 and a 1-year high of $4.23. The company has a market capitalization of $339.08 million, a price-to-earnings ratio of -1.27 and a beta of 3.48. The business has a 50 day simple moving average of $2.77 and a two-hundred day simple moving average of $3.02.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Private Advisor Group LLC raised its stake in Cabaletta Bio by 22.4% during the first quarter. Private Advisor Group LLC now owns 18,025 shares of the company's stock valued at $48,000 after purchasing an additional 3,300 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Cabaletta Bio in the 2nd quarter worth $34,000. HighTower Advisors LLC purchased a new position in shares of Cabaletta Bio in the 2nd quarter worth $34,000. WINTON GROUP Ltd grew its stake in shares of Cabaletta Bio by 76.5% in the 2nd quarter. WINTON GROUP Ltd now owns 27,000 shares of the company's stock worth $84,000 after buying an additional 11,700 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Cabaletta Bio in the 1st quarter worth about $32,000.

About Cabaletta Bio

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with autoimmune diseases. The company's approach is designed to selectively target and eliminate disease-causing B cells or autoreactive immune cells while seeking to restore a healthier immune system.

Cabaletta's lead program is CABA-201, a fully human CD19-directed chimeric antigen receptor T-cell therapy being evaluated across multiple autoimmune conditions. The company has also developed a platform for creating targeted cellular therapies, including investigational product candidates intended for diseases such as pemphigus and other antibody-mediated autoimmune disorders.

Founded in 2017 and headquartered in Philadelphia, Pennsylvania, Cabaletta Bio conducts research and clinical development primarily in the United States.

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