Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $27.30 Consensus PT from Analysts

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) have been assigned a consensus recommendation of "Buy" from the nine research firms that are covering the company, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is $26.25.

Several research analysts have issued reports on CABA shares. Evercore ISI decreased their price target on shares of Cabaletta Bio from $25.00 to $15.00 and set an "outperform" rating on the stock in a research report on Monday, August 12th. HC Wainwright restated a "buy" rating and issued a $25.00 price target on shares of Cabaletta Bio in a research report on Friday, November 15th. William Blair reiterated an "outperform" rating on shares of Cabaletta Bio in a research report on Monday, November 18th. UBS Group began coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They set a "buy" rating and a $10.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Cabaletta Bio from $20.00 to $12.00 and set an "overweight" rating on the stock in a research report on Friday, November 15th.

Cabaletta Bio Stock Performance

Shares of CABA traded up $0.81 during mid-day trading on Friday, reaching $3.82. 17,967,794 shares of the company's stock traded hands, compared to its average volume of 2,356,309. The business's 50-day moving average price is $3.90 and its 200-day moving average price is $6.32. The stock has a market capitalization of $186.72 million, a P/E ratio of -1.78 and a beta of 2.42. Cabaletta Bio has a 12 month low of $1.76 and a 12 month high of $26.35.

Institutional Investors Weigh In On Cabaletta Bio

Several institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cabaletta Bio during the 3rd quarter worth $32,000. Point72 DIFC Ltd bought a new position in shares of Cabaletta Bio during the 3rd quarter worth about $33,000. China Universal Asset Management Co. Ltd. increased its holdings 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 purchasing an additional 3,724 shares during the period. Intech Investment Management LLC bought a new position in shares of Cabaletta Bio during the 3rd quarter worth about $67,000. Finally, GSA Capital Partners LLP bought a new stake in Cabaletta Bio in the third quarter valued at about $127,000.

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.