Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) PT at $22.71

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) have been given an average recommendation of "Buy" by the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $22.71.

Several equities research analysts have recently issued reports on CABA shares. Evercore ISI cut shares of Cabaletta Bio from an "outperform" rating to an "inline" rating and reduced their price objective for the company from $15.00 to $6.00 in a research report on Friday, December 20th. Wells Fargo & Company lowered 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. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research note on Friday, January 17th. William Blair reiterated an "outperform" rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Finally, TD Cowen upgraded shares of Cabaletta Bio to a "strong-buy" rating in a research report on Friday, November 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CABA. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cabaletta Bio during the 3rd quarter worth about $32,000. Point72 DIFC Ltd purchased a new position in shares of Cabaletta Bio during the third quarter valued at approximately $33,000. Miller Financial Services LLC bought a new position in shares of Cabaletta Bio during the fourth quarter valued at approximately $33,000. Avanza Fonder AB purchased a new stake in shares of Cabaletta Bio in the fourth quarter worth approximately $40,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Cabaletta Bio by 65.7% during the 3rd 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.

Cabaletta Bio Stock Down 1.3 %

Shares of NASDAQ:CABA traded down $0.04 during midday trading on Wednesday, reaching $2.68. The company's stock had a trading volume of 604,583 shares, compared to its average volume of 1,288,842. Cabaletta Bio has a 12-month low of $1.76 and a 12-month high of $24.85. The firm has a 50 day moving average of $2.48 and a 200-day moving average of $3.66. The firm has a market capitalization of $130.75 million, a P/E ratio of -1.25 and a beta of 2.47.

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.