Cabaletta Bio, Inc. (NASDAQ:CABA – Get Free Report) traded up 7.8% on Thursday . The stock traded as high as $3.28 and last traded at $3.2220. Approximately 3,384,207 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 3,681,072 shares. The stock had previously closed at $2.99.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Morgan Stanley dropped their target price on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Guggenheim lifted their target price on Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Wells Fargo & Company lifted their target price on Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a research report on Friday, May 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of Cabaletta Bio in a report on Monday, May 4th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.
Get Our Latest Research Report on Cabaletta Bio
Cabaletta Bio Price Performance
Cabaletta Bio (NASDAQ:CABA – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.02. As a group, equities research analysts predict that Cabaletta Bio, Inc. will post -1.38 EPS for the current fiscal year.
Hedge Funds Weigh In On Cabaletta Bio
Several institutional investors have recently modified their holdings of the business. Private Advisor Group LLC increased its position in shares of Cabaletta Bio by 22.4% during the first quarter. Private Advisor Group LLC now owns 18,025 shares of the company’s stock valued at $48,000 after acquiring an additional 3,300 shares during the last quarter. SG Americas Securities LLC boosted its position in Cabaletta Bio by 44.0% in the fourth quarter. SG Americas Securities LLC now owns 30,629 shares of the company’s stock worth $67,000 after purchasing an additional 9,365 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Cabaletta Bio in the first quarter worth $32,000. SummitTX Capital L.P. bought a new position in Cabaletta Bio in the 1st quarter valued at $34,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in Cabaletta Bio in the 4th quarter valued at $34,000.
About Cabaletta Bio
Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.
The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.
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