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

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

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lowered Cabaletta Bio from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. TD Cowen upgraded Cabaletta Bio to a "strong-buy" rating in a research report on Friday, November 29th. HC Wainwright reiterated a "buy" rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Tuesday, February 18th. William Blair reiterated an "outperform" rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Finally, Evercore ISI lowered Cabaletta Bio from an "outperform" rating to an "inline" rating and decreased their target price for the company from $15.00 to $6.00 in a research report on Friday, December 20th.

Cabaletta Bio Trading Up 1.1 %

Cabaletta Bio stock opened at $1.79 on Friday. Cabaletta Bio has a 12 month low of $1.59 and a 12 month high of $21.24. The firm has a market cap of $87.49 million, a PE ratio of -0.83 and a beta of 2.58. The stock's 50 day simple moving average is $2.28 and its two-hundred day simple moving average is $3.28.

Institutional Trading of Cabaletta Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC grew its holdings in shares of Cabaletta Bio by 1.6% during the 3rd quarter. Jennison Associates LLC now owns 5,632,681 shares of the company's stock worth $26,586,000 after purchasing an additional 86,214 shares during the period. Fred Alger Management LLC grew its holdings in shares of Cabaletta Bio by 63.3% during the 3rd quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company's stock worth $19,444,000 after purchasing an additional 1,596,512 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in shares of Cabaletta Bio by 10.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,074,006 shares of the company's stock worth $9,248,000 after purchasing an additional 400,282 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of Cabaletta Bio by 19.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company's stock worth $8,250,000 after purchasing an additional 597,828 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in shares of Cabaletta Bio by 89.7% during the 4th quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company's stock worth $2,874,000 after purchasing an additional 598,607 shares during the period.

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.

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