Cabaletta Bio, Inc. (NASDAQ:CABA – Get Free Report)’s share price was up 7.7% during trading on Wednesday . The stock traded as high as $4.02 and last traded at $4.0050. Approximately 1,539,244 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 3,239,040 shares. The stock had previously closed at $3.72.
Wall Street Analysts Forecast Growth
CABA has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Monday, April 20th. Guggenheim boosted their price target on Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Morgan Stanley decreased their price target on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Wall Street Zen cut Cabaletta Bio from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Finally, Wells Fargo & Company boosted their price target on Cabaletta Bio from $2.00 to $4.00 and gave the stock an “equal weight” rating in a research note on Friday, May 15th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Cabaletta Bio has a consensus rating of “Moderate Buy” and an average price target of $15.50.
Read Our Latest Stock Analysis 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 analysts’ consensus estimates of ($0.41) by $0.02. On average, equities analysts predict that Cabaletta Bio, Inc. will post -1.38 EPS for the current fiscal year.
Institutional Trading of Cabaletta Bio
A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its position in Cabaletta Bio by 1,770.9% in the first quarter. Bank of America Corp DE now owns 269,257 shares of the company’s stock worth $724,000 after buying an additional 254,865 shares in the last quarter. SummitTX Capital L.P. purchased a new stake in Cabaletta Bio in the first quarter worth about $34,000. Renaissance Technologies LLC increased its position in Cabaletta Bio by 33.8% in the first quarter. Renaissance Technologies LLC now owns 2,036,663 shares of the company’s stock worth $5,479,000 after buying an additional 514,080 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Cabaletta Bio by 63.8% in the first quarter. Dimensional Fund Advisors LP now owns 740,648 shares of the company’s stock worth $1,990,000 after buying an additional 288,609 shares in the last quarter. Finally, Jennison Associates LLC increased its position in Cabaletta Bio by 0.7% in the first quarter. Jennison Associates LLC now owns 8,970,578 shares of the company’s stock worth $24,131,000 after buying an additional 64,879 shares in the last quarter.
Cabaletta Bio Company Profile
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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