Cabaletta Bio (NASDAQ:CABA) Shares Gap Up to $11.23

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $11.23, but opened at $12.28. Cabaletta Bio shares last traded at $12.45, with a volume of 130,110 shares trading hands.

Wall Street Analysts Forecast Growth

CABA has been the topic of several research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $50.00 price target on shares of Cabaletta Bio in a research report on Friday, April 5th. Wells Fargo & Company boosted their price target on shares of Cabaletta Bio from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, March 22nd. HC Wainwright boosted their price target on shares of Cabaletta Bio from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, March 22nd. Citigroup boosted their price target on shares of Cabaletta Bio from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, April 4th. Finally, Jefferies Financial Group initiated coverage on shares of Cabaletta Bio in a report on Monday, February 5th. They set a "buy" rating and a $36.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cabaletta Bio currently has a consensus rating of "Buy" and an average target price of $34.33.

Cabaletta Bio Stock Performance

The firm has a market cap of $593.96 million, a PE ratio of -7.69 and a beta of 2.52. The stock's 50 day simple moving average is $15.86 and its 200 day simple moving average is $18.72.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.07). As a group, analysts anticipate that Cabaletta Bio, Inc. will post -1.82 earnings per share for the current year.

Institutional Investors Weigh In On Cabaletta Bio

Institutional investors have recently made changes to their positions in the business. Macroview Investment Management LLC purchased a new stake in shares of Cabaletta Bio in the 4th quarter valued at $26,000. Tower Research Capital LLC TRC raised its holdings in Cabaletta Bio by 65.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,623 shares of the company's stock valued at $60,000 after buying an additional 1,042 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Cabaletta Bio during the 3rd quarter valued at $63,000. Amalgamated Bank raised its holdings in Cabaletta Bio by 24.7% during the 3rd quarter. Amalgamated Bank now owns 4,648 shares of the company's stock valued at $71,000 after buying an additional 922 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Cabaletta Bio during the 4th quarter valued at $113,000.

Cabaletta Bio Company Profile

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.