Cabaletta Bio, Inc. (NASDAQ:CABA – Get Free Report) has been given a consensus rating of “Buy” by the ten research firms that are currently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $28.10.
Several equities research analysts have recently commented on the stock. UBS Group assumed coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 target price for the company. Evercore ISI decreased their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $50.00 target price on shares of Cabaletta Bio in a research report on Friday, June 21st. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a report on Tuesday, September 17th. Finally, Wells Fargo & Company cut their price target on shares of Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, August 12th.
Get Our Latest Research Report on Cabaletta Bio
Cabaletta Bio Trading Up 7.6 %
Cabaletta Bio (NASDAQ:CABA – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). On average, research analysts forecast that Cabaletta Bio will post -2.28 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Cabaletta Bio in the third quarter valued at about $166,000. The Manufacturers Life Insurance Company boosted its stake in Cabaletta Bio by 8.0% in the second quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock valued at $422,000 after acquiring an additional 4,191 shares during the last quarter. Millennium Management LLC boosted its stake in Cabaletta Bio by 24.8% in the second quarter. Millennium Management LLC now owns 698,317 shares of the company’s stock valued at $5,223,000 after acquiring an additional 138,950 shares during the last quarter. AXA S.A. boosted its stake in Cabaletta Bio by 52.0% in the second quarter. AXA S.A. now owns 270,778 shares of the company’s stock valued at $2,025,000 after acquiring an additional 92,616 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Cabaletta Bio by 643.3% in the second quarter. Squarepoint Ops LLC now owns 315,379 shares of the company’s stock valued at $2,359,000 after acquiring an additional 272,948 shares during the last quarter.
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.
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