Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) Price Target at $22.00

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $21.00.

A number of analysts recently issued reports on the company. Guggenheim restated a “buy” rating and issued a $23.00 price target on shares of Cabaletta Bio in a research report on Tuesday, April 1st. UBS Group reduced their price target on shares of Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Morgan Stanley decreased their target price on shares of Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, April 1st. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company lowered their price target on Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st.

Institutional Investors Weigh In On Cabaletta Bio

Several institutional investors have recently added to or reduced their stakes in CABA. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cabaletta Bio during the third quarter worth approximately $32,000. Point72 DIFC Ltd acquired a new position in Cabaletta Bio in the third quarter valued at $33,000. Miller Financial Services LLC purchased a new position in shares of Cabaletta Bio during the fourth quarter worth about $33,000. Avanza Fonder AB acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth about $40,000. Finally, Intech Investment Management LLC increased its position in shares of Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock worth $46,000 after purchasing an additional 5,999 shares in the last quarter.

Cabaletta Bio Stock Down 6.7 %

NASDAQ:CABA opened at $1.11 on Thursday. The stock has a market cap of $56.32 million, a PE ratio of -0.52 and a beta of 2.44. The business’s 50-day simple moving average is $1.98 and its two-hundred day simple moving average is $2.88. Cabaletta Bio has a 52 week low of $1.08 and a 52 week high of $19.04.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.65) EPS for the quarter, hitting analysts’ consensus estimates of ($0.65). Sell-side analysts anticipate that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

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.