Cabaletta Bio, Inc. (NASDAQ:CABA) Receives Average Recommendation of "Buy" from Analysts

Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) has earned an average recommendation of "Buy" from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $22.71.

A number of brokerages recently weighed in on CABA. Evercore ISI downgraded shares of Cabaletta Bio from an "outperform" rating to an "inline" rating and lowered their target price for the stock from $15.00 to $6.00 in a report on Friday, December 20th. TD Cowen raised shares of Cabaletta Bio to a "strong-buy" rating in a report on Friday, November 29th. William Blair reiterated an "outperform" rating on shares of Cabaletta Bio in a report on Monday, November 18th. HC Wainwright reissued a "buy" rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research report on Friday, January 17th. Finally, Wells Fargo & Company lowered shares of Cabaletta Bio from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $12.00 to $6.00 in a research note on Thursday, December 19th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cabaletta Bio during the third quarter worth approximately $32,000. Point72 DIFC Ltd bought a new stake in shares of Cabaletta Bio during the 3rd quarter valued at $33,000. China Universal Asset Management Co. Ltd. grew 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 in the last quarter. Intech Investment Management LLC bought a new position in shares of Cabaletta Bio in the third quarter worth $67,000. Finally, Miller Financial Services LLC acquired a new position in Cabaletta Bio in the fourth quarter valued at about $33,000.

Cabaletta Bio Price Performance

CABA stock traded up $0.01 during mid-day trading on Wednesday, reaching $2.71. The company had a trading volume of 1,162,279 shares, compared to its average volume of 1,222,689. The company has a market capitalization of $132.46 million, a price-to-earnings ratio of -1.26 and a beta of 2.47. Cabaletta Bio has a 52 week low of $1.76 and a 52 week high of $25.05. The stock has a 50 day simple moving average of $2.49 and a two-hundred day simple moving average of $3.73.

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.