Cabaletta Bio, Inc. (NASDAQ:CABA) Given Consensus Rating of “Buy” by Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have received a consensus recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $24.38.

Several analysts have commented on CABA shares. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $15.00 to $6.00 in a report on Friday, December 20th. Wells Fargo & Company downgraded Cabaletta Bio from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $12.00 to $6.00 in a research note on Thursday, December 19th. UBS Group began coverage on Cabaletta Bio in a research note on Thursday, October 10th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a research report on Friday, January 17th.

Cabaletta Bio Price Performance

NASDAQ CABA opened at $2.50 on Friday. The firm has a market cap of $122.20 million, a P/E ratio of -1.16 and a beta of 2.46. The stock’s 50-day moving average is $2.63 and its 200-day moving average is $4.29. Cabaletta Bio has a one year low of $1.76 and a one year high of $26.35.

Institutional Trading of Cabaletta Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Walleye Capital LLC increased its position in shares of Cabaletta Bio by 111.6% during the 3rd quarter. Walleye Capital LLC now owns 401,982 shares of the company’s stock worth $1,897,000 after purchasing an additional 212,025 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Cabaletta Bio during the third quarter worth $3,150,000. Geode Capital Management LLC increased its holdings in Cabaletta Bio by 12.8% during the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after buying an additional 124,071 shares during the last quarter. Barclays PLC increased its holdings in Cabaletta Bio by 48.2% during the third quarter. Barclays PLC now owns 61,130 shares of the company’s stock worth $288,000 after buying an additional 19,891 shares during the last quarter. Finally, XTX Topco Ltd increased its stake in shares of Cabaletta Bio by 490.2% during the 3rd quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock worth $413,000 after purchasing an additional 72,638 shares during the last quarter.

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.