Cabaletta Bio, Inc. (NASDAQ:CABA) Given Average Rating of "Buy" by Analysts

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) have earned a consensus recommendation of "Buy" from the nine research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $21.00.

Several research analysts have recently commented on the company. Evercore ISI lowered Cabaletta Bio from an "outperform" rating to an "inline" rating and cut their price objective for the stock from $15.00 to $6.00 in a report on Friday, December 20th. Wells Fargo & Company lowered their target price on Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. UBS Group dropped their price target on shares of Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Morgan Stanley reduced their target price on Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 1st. Finally, HC Wainwright reissued a "buy" rating and issued a $25.00 price target on shares of Cabaletta Bio in a research note on Tuesday, April 1st.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cabaletta Bio during the third quarter valued at $32,000. Point72 DIFC Ltd purchased a new stake in Cabaletta Bio during the 3rd quarter valued at about $33,000. Intech Investment Management LLC bought a new stake in Cabaletta Bio during the 3rd quarter valued at about $67,000. Miller Financial Services LLC purchased a new position in Cabaletta Bio in the fourth quarter worth about $33,000. Finally, Avanza Fonder AB bought a new position in shares of Cabaletta Bio in the fourth quarter worth approximately $40,000.

Remove Ads

Cabaletta Bio Stock Up 3.2 %

Cabaletta Bio stock traded up $0.04 during midday trading on Thursday, reaching $1.15. The stock had a trading volume of 1,085,644 shares, compared to its average volume of 1,497,582. Cabaletta Bio has a 12 month low of $0.99 and a 12 month high of $19.04. The firm has a market capitalization of $58.10 million, a PE ratio of -0.53 and a beta of 2.44. The firm's 50-day moving average price is $1.95 and its 200 day moving average price is $2.84.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.65). Equities research analysts expect that Cabaletta Bio will post -2.34 EPS for the current year.

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.