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

Cabaletta Bio, Inc. (NASDAQ:CABA) has received an average rating of “Buy” from the eight brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $22.71.

A number of research analysts have issued reports on the company. Wells Fargo & Company cut Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $12.00 to $6.00 in a report on Thursday, December 19th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a report on Friday, January 17th. Evercore ISI cut Cabaletta Bio from an “outperform” rating to an “inline” rating and cut their price objective for the company from $15.00 to $6.00 in a report on Friday, December 20th. TD Cowen raised Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th.

Cabaletta Bio Stock Performance

Shares of NASDAQ CABA opened at $2.71 on Wednesday. The stock has a market cap of $132.46 million, a PE ratio of -1.26 and a beta of 2.47. The business has a fifty day moving average of $2.49 and a two-hundred day moving average of $3.71. Cabaletta Bio has a 52-week low of $1.76 and a 52-week high of $25.05.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cabaletta Bio in the third quarter worth about $32,000. Point72 DIFC Ltd acquired a new stake in Cabaletta Bio in the third quarter worth about $33,000. Miller Financial Services LLC acquired a new stake in Cabaletta Bio in the fourth quarter worth about $33,000. Avanza Fonder AB acquired a new stake in Cabaletta Bio in the fourth quarter worth about $40,000. Finally, China Universal Asset Management Co. Ltd. increased its position in Cabaletta Bio by 65.7% in the third 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 during the period.

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.