Cabaletta Bio (NASDAQ:CABA) Downgraded to Hold at Zacks Investment Research

Cabaletta Bio (NASDAQ:CABAGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Cabaletta Bio Inc. is a clinical stage biotechnology company. It is focused on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. The company’s product pipeline consists of DSG3-CAART, DSG3/1-CAART, MuSK-CAART and FVIII-CAART which are in clinical stage. Cabaletta Bio Inc. is based in Philadelphia, United States. “

CABA has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Cabaletta Bio in a report on Monday, May 16th. Mizuho reduced their target price on shares of Cabaletta Bio from $20.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, May 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $13.75.

Shares of NASDAQ:CABA traded up $0.06 on Wednesday, reaching $1.32. 79,670 shares of the company were exchanged, compared to its average volume of 161,262. Cabaletta Bio has a 1-year low of $1.10 and a 1-year high of $14.95. The firm has a market cap of $38.25 million, a price-to-earnings ratio of -0.72 and a beta of 1.53. The company has a 50-day moving average of $1.55 and a 200-day moving average of $3.40.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Powell Investment Advisors LLC acquired a new stake in Cabaletta Bio during the 1st quarter worth approximately $30,000. Dynamic Technology Lab Private Ltd increased its position in Cabaletta Bio by 81.6% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,250 shares of the company’s stock worth $39,000 after purchasing an additional 8,648 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Cabaletta Bio during the 4th quarter worth approximately $42,000. Bank of New York Mellon Corp increased its position in Cabaletta Bio by 120.2% during the 1st quarter. Bank of New York Mellon Corp now owns 22,674 shares of the company’s stock worth $46,000 after purchasing an additional 12,379 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in Cabaletta Bio during the 4th quarter worth approximately $55,000. 62.75% of the stock is owned by hedge funds and other institutional investors.

Cabaletta Bio Company Profile (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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