Stifel Nicolaus Reaffirms Buy Rating for Cabaletta Bio (NASDAQ:CABA)

Stifel Nicolaus reiterated their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a research note issued to investors on Monday, Benzinga reports. The firm currently has a $32.00 price target on the stock.

Other equities research analysts also recently issued research reports about the stock. Citigroup raised their price objective 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. Cantor Fitzgerald reiterated an overweight rating and set a $50.00 price objective on shares of Cabaletta Bio in a research report on Friday, April 5th. HC Wainwright reiterated a buy rating and set a $30.00 target price on shares of Cabaletta Bio in a research report on Friday, June 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Cabaletta Bio from $34.00 to $35.00 and gave the company an overweight rating in a research note on Friday, March 22nd. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $34.44.

Cabaletta Bio Trading Down 10.8 %

CABA opened at $8.35 on Monday. Cabaletta Bio has a 12-month low of $7.64 and a 12-month high of $26.35. The firm has a market cap of $403.14 million, a price-to-earnings ratio of -4.88 and a beta of 2.47. The stock’s 50-day moving average price is $11.99 and its 200 day moving average price is $17.67.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). On average, research analysts forecast that Cabaletta Bio will post -2.07 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its holdings in shares of Cabaletta Bio by 1,167.4% during the third quarter. Barclays PLC now owns 64,586 shares of the company’s stock valued at $984,000 after acquiring an additional 59,490 shares during the period. Amalgamated Bank raised its position in Cabaletta Bio by 24.7% in the 3rd quarter. Amalgamated Bank now owns 4,648 shares of the company’s stock worth $71,000 after purchasing an additional 922 shares during the last quarter. Swiss National Bank bought a new position in Cabaletta Bio in the third quarter valued at about $930,000. Citigroup Inc. grew its position in shares of Cabaletta Bio by 552.4% during the 3rd quarter. Citigroup Inc. now owns 49,695 shares of the company’s stock worth $756,000 after buying an additional 42,078 shares during the period. Finally, Rafferty Asset Management LLC bought a new position in shares of Cabaletta Bio during the 3rd quarter valued at about $1,798,000.

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.