Jefferies Financial Group Initiates Coverage on Cabaletta Bio (NASDAQ:CABA)

Equities researchers at Jefferies Financial Group started coverage on shares of Cabaletta Bio (NASDAQ:CABAGet Free Report) in a research report issued on Monday, Marketbeat reports. The firm set a “buy” rating and a $36.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 58.94% from the company’s previous close.

A number of other brokerages have also weighed in on CABA. Stifel Nicolaus initiated coverage on shares of Cabaletta Bio in a research note on Thursday, October 19th. They issued a “buy” rating and a $31.00 target price for the company. Cantor Fitzgerald boosted their price target on shares of Cabaletta Bio from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 15th. William Blair reissued an “outperform” rating and set a $38.00 price target on shares of Cabaletta Bio in a research report on Wednesday, November 29th. Morgan Stanley cut their price target on shares of Cabaletta Bio from $28.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 29th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Wednesday, November 29th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Cabaletta Bio currently has a consensus rating of “Buy” and an average target price of $28.33.

Check Out Our Latest Report on CABA

Cabaletta Bio Stock Up 0.4 %

Shares of CABA stock opened at $22.65 on Monday. Cabaletta Bio has a 12-month low of $5.88 and a 12-month high of $24.62. The firm has a market capitalization of $970.55 million, a price-to-earnings ratio of -13.25 and a beta of 2.47. The firm has a fifty day moving average of $20.59 and a 200-day moving average of $16.78.

Cabaletta Bio (NASDAQ:CABAGet Free Report) last announced its quarterly earnings results on Thursday, November 9th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. Research analysts expect that Cabaletta Bio will post -1.59 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Gwendolyn Binder sold 11,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $19.59, for a total transaction of $215,490.00. Following the sale, the insider now owns 20,000 shares of the company’s stock, valued at $391,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.33% of the company’s stock.

Institutional Trading of Cabaletta Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Macroview Investment Management LLC acquired a new position in Cabaletta Bio during the 4th quarter worth approximately $26,000. Ameritas Investment Partners Inc. acquired a new position in Cabaletta Bio in the 2nd quarter valued at approximately $27,000. Comerica Bank acquired a new position in Cabaletta Bio in the 3rd quarter valued at approximately $31,000. UBS Group AG acquired a new position in Cabaletta Bio in the 3rd quarter valued at approximately $33,000. Finally, Barclays PLC increased its position in Cabaletta Bio by 239.6% in the 4th quarter. Barclays PLC now owns 4,146 shares of the company’s stock valued at $38,000 after acquiring an additional 2,925 shares during the period.

About Cabaletta Bio

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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 DSG3-CAART, which is in Phase I clinical trial for the treatment of mucosal pemphigus vulgaris, an autoimmune blistering skin disease.

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