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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA - Get Free Report) have received a consensus rating of "Buy" from the ten research firms that are currently covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $28.10.

Several analysts have weighed in on CABA shares. Evercore ISI lowered their price target on Cabaletta Bio from $25.00 to $15.00 and set an "outperform" rating on the stock in a report on Monday, August 12th. HC Wainwright reiterated a "buy" rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Tuesday, September 17th. Wells Fargo & Company decreased their price target on shares of Cabaletta Bio from $35.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, August 12th. Finally, UBS Group began coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They set a "buy" rating and a $10.00 price objective for the company.

Cabaletta Bio Trading Up 7.8 %

Shares of Cabaletta Bio stock traded up $0.29 on Monday, reaching $4.00. The stock had a trading volume of 929,917 shares, compared to its average volume of 1,088,255. The business's 50 day moving average is $4.43 and its two-hundred day moving average is $7.37. The company has a market cap of $195.40 million, a P/E ratio of -2.11 and a beta of 2.42. Cabaletta Bio has a 1 year low of $3.47 and a 1 year high of $26.35.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). On average, equities analysts anticipate that Cabaletta Bio will post -2.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

Several institutional investors and hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of Cabaletta Bio by 65.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company's stock valued at $44,000 after purchasing an additional 3,724 shares during the period. EntryPoint Capital LLC bought a new stake in Cabaletta Bio in the 1st quarter worth $147,000. SG Americas Securities LLC bought a new position in shares of Cabaletta Bio during the third quarter valued at about $166,000. Bayesian Capital Management LP bought a new stake in shares of Cabaletta Bio in the first quarter worth about $191,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Cabaletta Bio during the 1st quarter valued at about $305,000.

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.