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

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have received a consensus recommendation of “Buy” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $34.44.

Several equities analysts have issued reports on CABA shares. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 target price on shares of Cabaletta Bio in a research report on Monday, June 17th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Cabaletta Bio in a research report on Friday, June 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 target price on shares of Cabaletta Bio in a research report on Friday, June 21st. Citigroup boosted their target price on Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company boosted their target price on Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd.

Institutional Investors Weigh In On Cabaletta Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Westwood Holdings Group Inc. purchased a new stake in Cabaletta Bio in the 1st quarter valued at approximately $1,403,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Cabaletta Bio in the 1st quarter valued at approximately $305,000. California State Teachers Retirement System lifted its stake in Cabaletta Bio by 6.0% in the 1st quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock valued at $519,000 after buying an additional 1,711 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Cabaletta Bio in the 1st quarter valued at approximately $191,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Cabaletta Bio by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock valued at $10,448,000 after buying an additional 84,633 shares in the last quarter.

Cabaletta Bio Stock Up 7.2 %

CABA opened at $7.56 on Tuesday. The business has a 50 day moving average price of $10.31 and a two-hundred day moving average price of $16.67. The company has a market cap of $365.00 million, a PE ratio of -4.42 and a beta of 2.42. Cabaletta Bio has a 52 week low of $6.90 and a 52 week high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.03). As a group, sell-side analysts expect that Cabaletta Bio will post -2.07 EPS for the current fiscal year.

About Cabaletta Bio

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.