Shares of Cabaletta Bio, Inc. (NASDAQ:CABA – Get Free Report) have earned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $15.3333.
Several research firms have recently issued reports on CABA. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Friday, July 17th. Wall Street Zen lowered shares of Cabaletta Bio from a “sell” rating to a “strong sell” rating in a research report on Saturday. Wells Fargo & Company cut their price objective on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Cabaletta Bio in a research note on Tuesday, September 1st. Finally, TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th.
Check Out Our Latest Stock Analysis on CABA
Cabaletta Bio Stock Performance
Cabaletta Bio (NASDAQ:CABA – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.03. As a group, sell-side analysts predict that Cabaletta Bio will post -1.34 earnings per share for the current fiscal year.
Institutional Trading of Cabaletta Bio
A number of institutional investors have recently modified their holdings of CABA. Opaleye Management Inc. raised its position in Cabaletta Bio by 180.0% during the 2nd quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company’s stock valued at $12,016,000 after purchasing an additional 2,483,800 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of Cabaletta Bio by 76.5% in the 2nd quarter. WINTON GROUP Ltd now owns 27,000 shares of the company’s stock worth $84,000 after buying an additional 11,700 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Cabaletta Bio in the 2nd quarter worth approximately $34,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Cabaletta Bio during the second quarter valued at approximately $476,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Cabaletta Bio during the second quarter valued at approximately $83,000.
About Cabaletta Bio
Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with autoimmune diseases. The company’s approach is designed to selectively target and eliminate disease-causing immune cells or restore immune tolerance, with the goal of achieving durable disease control.
Cabaletta’s lead investigational program is CABA-201, a fully human anti-CD19 chimeric antigen receptor T-cell therapy being evaluated in autoimmune conditions, including systemic lupus erythematosus and other B-cell-mediated diseases.
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