Shares of Cabaletta Bio, Inc. (NASDAQ:CABA – Get Free Report) were up 9.8% on Wednesday . The stock traded as high as $3.09 and last traded at $3.0750. Approximately 1,627,682 shares traded hands during trading, a decline of 51% from the average daily volume of 3,304,382 shares. The stock had previously closed at $2.80.
Analyst Ratings Changes
Several analysts have weighed in on CABA shares. Morgan Stanley lowered their target price on shares of 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 lowered shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a research note on Saturday. Jefferies Financial Group reissued a “buy” rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. Wells Fargo & Company boosted their price target on shares of Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a report on Friday, May 15th. Finally, Guggenheim boosted their price target on shares of Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.50.
Check Out Our Latest Research Report on CABA
Cabaletta Bio Price Performance
Cabaletta Bio (NASDAQ:CABA – Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.02. As a group, equities analysts forecast that Cabaletta Bio, Inc. will post -1.38 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Cabaletta Bio
Several institutional investors have recently bought and sold shares of CABA. Kestra Advisory Services LLC acquired a new stake in Cabaletta Bio in the first quarter worth about $32,000. China Universal Asset Management Co. Ltd. acquired a new stake in Cabaletta Bio in the fourth quarter worth about $34,000. SummitTX Capital L.P. bought a new stake in Cabaletta Bio in the first quarter worth about $34,000. ANTIPODES PARTNERS Ltd bought a new stake in Cabaletta Bio in the fourth quarter worth about $38,000. Finally, Clear Harbor Asset Management LLC bought a new stake in Cabaletta Bio in the fourth quarter worth about $43,000.
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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