Cabaletta Bio, Inc. (NASDAQ:CABA – Get Free Report) has been given an average recommendation of “Buy” by the eleven analysts that are presently covering the stock, MarketBeat.com reports. Eleven investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $28.33.
A number of equities analysts have commented on the stock. Stifel Nicolaus began 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 on the stock. Jefferies Financial Group started coverage on shares of Cabaletta Bio in a research note on Monday. They set a “buy” rating and a $36.00 target price on the stock. William Blair reissued an “outperform” rating and set a $38.00 target price on shares of Cabaletta Bio in a research note on Wednesday, November 29th. Cantor Fitzgerald upped their price target on Cabaletta Bio from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of Cabaletta Bio in a research note on Wednesday, November 29th.
Cabaletta Bio Trading Up 4.2 %
Cabaletta Bio (NASDAQ:CABA – Get Free Report) last issued its earnings results on Thursday, November 9th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Research analysts forecast that Cabaletta Bio will post -1.59 earnings per share for the current fiscal year.
Insider Activity at Cabaletta Bio
In other news, insider Gwendolyn Binder sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $19.59, for a total transaction of $215,490.00. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $391,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.33% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Cabaletta Bio
Institutional investors have recently added to or reduced their stakes in the business. Fred Alger Management LLC lifted its position in shares of Cabaletta Bio by 445.6% during the first quarter. Fred Alger Management LLC now owns 4,015,310 shares of the company’s stock valued at $33,207,000 after purchasing an additional 3,279,361 shares in the last quarter. Bain Capital Life Sciences Investors LLC bought a new position in shares of Cabaletta Bio in the second quarter worth $25,820,000. BlackRock Inc. increased its position in shares of Cabaletta Bio by 637.1% during the second quarter. BlackRock Inc. now owns 1,709,718 shares of the company’s stock valued at $22,072,000 after buying an additional 1,477,768 shares during the period. Perceptive Advisors LLC increased its holdings in shares of Cabaletta Bio by 113.2% in the second quarter. Perceptive Advisors LLC now owns 1,545,000 shares of the company’s stock worth $19,946,000 after purchasing an additional 820,223 shares during the period. Finally, Commodore Capital LP boosted its position in shares of Cabaletta Bio by 29.1% during the 2nd quarter. Commodore Capital LP now owns 2,368,186 shares of the company’s stock valued at $30,573,000 after acquiring an additional 533,186 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 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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