Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $24.38 Consensus Price Target from Brokerages

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have received a consensus recommendation of “Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $24.38.

A number of equities research analysts have recently issued reports on CABA shares. William Blair restated an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a research note on Friday, November 29th. UBS Group started coverage on Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 target price for the company. Evercore ISI downgraded Cabaletta Bio from an “outperform” rating to an “inline” rating and lowered their price target for the company from $15.00 to $6.00 in a report on Friday, December 20th. Finally, Wells Fargo & Company lowered Cabaletta Bio from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $12.00 to $6.00 in a research report on Thursday, December 19th.

Institutional Investors Weigh In On Cabaletta Bio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Walleye Capital LLC increased its holdings in Cabaletta Bio by 111.6% in the third quarter. Walleye Capital LLC now owns 401,982 shares of the company’s stock worth $1,897,000 after buying an additional 212,025 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Cabaletta Bio in the third quarter worth approximately $3,150,000. Geode Capital Management LLC grew its position in Cabaletta Bio by 12.8% in the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after acquiring an additional 124,071 shares in the last quarter. Barclays PLC increased its stake in shares of Cabaletta Bio by 48.2% during the 3rd quarter. Barclays PLC now owns 61,130 shares of the company’s stock worth $288,000 after purchasing an additional 19,891 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Cabaletta Bio by 490.2% during the 3rd quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock valued at $413,000 after purchasing an additional 72,638 shares in the last quarter.

Cabaletta Bio Trading Down 2.3 %

NASDAQ CABA opened at $2.54 on Friday. Cabaletta Bio has a 1 year low of $1.76 and a 1 year high of $26.35. The company has a market cap of $124.16 million, a PE ratio of -1.18 and a beta of 2.46. The stock’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $4.31.

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.