Cabaletta Bio, Inc. (NASDAQ:CABA) Given Consensus Rating of “Buy” by Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABAGet Rating) have received an average rating of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have covered the stock in the last year is $13.75.

A number of research firms recently commented on CABA. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Cabaletta Bio in a report on Monday, May 16th. Mizuho decreased their target price on Cabaletta Bio from $20.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Finally, Zacks Investment Research raised Cabaletta Bio from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research note on Wednesday, May 25th.

Several hedge funds have recently bought and sold shares of the company. Samlyn Capital LLC boosted its position in shares of Cabaletta Bio by 295.8% during the fourth quarter. Samlyn Capital LLC now owns 1,383,381 shares of the company’s stock worth $5,243,000 after buying an additional 1,033,906 shares during the period. Vanguard Group Inc. boosted its position in shares of Cabaletta Bio by 16.3% during the first quarter. Vanguard Group Inc. now owns 1,051,838 shares of the company’s stock worth $2,135,000 after buying an additional 147,346 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Cabaletta Bio by 5.6% during the fourth quarter. Point72 Asset Management L.P. now owns 950,000 shares of the company’s stock worth $3,601,000 after buying an additional 50,000 shares during the period. BlackRock Inc. boosted its position in shares of Cabaletta Bio by 52.6% during the fourth quarter. BlackRock Inc. now owns 504,190 shares of the company’s stock worth $1,910,000 after buying an additional 173,709 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Cabaletta Bio by 20.2% during the fourth quarter. Victory Capital Management Inc. now owns 264,224 shares of the company’s stock worth $1,002,000 after buying an additional 44,438 shares during the period. 62.75% of the stock is owned by institutional investors.

NASDAQ CABA traded up $0.04 on Wednesday, reaching $1.30. The company had a trading volume of 995 shares, compared to its average volume of 115,041. The stock’s 50 day moving average is $1.55 and its 200-day moving average is $3.40. The stock has a market cap of $37.67 million, a price-to-earnings ratio of -0.71 and a beta of 1.53. Cabaletta Bio has a 52 week low of $1.10 and a 52 week high of $14.95.

Cabaletta Bio (NASDAQ:CABAGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.08. As a group, equities research analysts predict that Cabaletta Bio will post -2.07 earnings per share for the current fiscal year.

About Cabaletta Bio (Get Rating)

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. Its proprietary technology utilizes chimeric autoantibody receptor (CAAR) T cells that are designed to selectively bind and eliminate B cells, which produce disease-causing autoantibodies or pathogenic B cells.

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