Cabaletta Bio (NASDAQ:CABA) Shares Down 6.1%

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) traded down 6.1% on Tuesday . The company traded as low as $12.06 and last traded at $12.09. 519,435 shares were traded during mid-day trading, a decline of 50% from the average session volume of 1,038,093 shares. The stock had previously closed at $12.88.

Wall Street Analyst Weigh In

Several brokerages recently commented on CABA. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $50.00 price objective on shares of Cabaletta Bio in a research note on Friday, April 5th. Citigroup lifted their price target on Cabaletta Bio from $26.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, April 4th. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Cabaletta Bio in a research report on Thursday, May 16th. Jefferies Financial Group began coverage on Cabaletta Bio in a report on Monday, February 5th. They issued a "buy" rating and a $36.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on Cabaletta Bio from $34.00 to $35.00 and gave the company an "overweight" rating in a report on Friday, March 22nd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $34.33.

Cabaletta Bio Price Performance

The firm has a market capitalization of $588.53 million, a P/E ratio of -7.11 and a beta of 2.52. The firm has a fifty day simple moving average of $15.11 and a two-hundred day simple moving average of $18.67.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last posted its earnings results on Thursday, March 21st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.07). On average, research analysts anticipate that Cabaletta Bio, Inc. will post -2.07 EPS for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Several large investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its holdings in shares of Cabaletta Bio by 6.0% during the first quarter. California State Teachers Retirement System now owns 30,428 shares of the company's stock valued at $519,000 after purchasing an additional 1,711 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Cabaletta Bio during the first quarter valued at approximately $191,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Cabaletta Bio by 16.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company's stock valued at $10,448,000 after purchasing an additional 84,633 shares during the last quarter. Westwood Holdings Group Inc. purchased a new position in shares of Cabaletta Bio during the first quarter valued at approximately $1,403,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Cabaletta Bio during the first quarter valued at approximately $147,000.

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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