Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Consensus Rating of “Buy” from Analysts

Cabaletta Bio, Inc. (NASDAQ:CABA) has earned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $24.38.

Several research analysts have weighed in on CABA shares. TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a research note on Friday, November 29th. Wells Fargo & Company cut shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $12.00 to $6.00 in a research report on Thursday, December 19th. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a research report on Friday, November 15th. UBS Group initiated coverage on Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 price target for the company. Finally, William Blair reiterated an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th.

Cabaletta Bio Trading Down 8.0 %

NASDAQ CABA opened at $2.29 on Tuesday. The stock has a fifty day simple moving average of $3.28 and a 200-day simple moving average of $5.07. The stock has a market cap of $111.93 million, a PE ratio of -1.07 and a beta of 2.37. Cabaletta Bio has a twelve month low of $1.76 and a twelve month high of $26.35.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds and other institutional investors have recently made changes to their positions in CABA. China Universal Asset Management Co. Ltd. lifted its stake in Cabaletta Bio by 65.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock worth $44,000 after acquiring an additional 3,724 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Cabaletta Bio by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock worth $422,000 after purchasing an additional 4,191 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cabaletta Bio during the third quarter worth $32,000. Point72 DIFC Ltd purchased a new position in Cabaletta Bio in the third quarter valued at $33,000. Finally, TD Asset Management Inc raised its stake in Cabaletta Bio by 5.5% in the second quarter. TD Asset Management Inc now owns 134,030 shares of the company’s stock valued at $1,003,000 after buying an additional 7,000 shares in 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.