Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) PT at $24.38

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) has received a consensus rating of "Buy" from the nine analysts that are presently covering the stock, MarketBeat Ratings 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 12 month price objective among brokers that have issued a report on the stock in the last year is $24.38.

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

Cabaletta Bio Stock Up 12.8 %

NASDAQ CABA traded up $0.31 on Friday, reaching $2.74. The company had a trading volume of 3,034,242 shares, compared to its average volume of 1,284,331. Cabaletta Bio has a 52 week low of $1.76 and a 52 week high of $26.35. The stock's 50 day moving average is $2.75 and its 200-day moving average is $4.42. The stock has a market cap of $133.93 million, a price-to-earnings ratio of -1.27 and a beta of 2.46.

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC increased its position 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 last quarter. Fred Alger Management LLC increased its position 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 last quarter. Geode Capital Management LLC increased its position in shares of Cabaletta Bio by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company's stock worth $5,168,000 after purchasing an additional 124,071 shares during the last quarter. Millennium Management LLC increased its position in shares of Cabaletta Bio by 24.8% during the 2nd quarter. Millennium Management LLC now owns 698,317 shares of the company's stock worth $5,223,000 after purchasing an additional 138,950 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Cabaletta Bio during the 3rd quarter worth approximately $3,150,000.

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.