Cabaletta Bio, Inc. (NASDAQ:CABA) Receives $27.30 Average Target Price from Analysts

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have received a consensus rating of “Buy” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $26.25.

A number of research analysts have issued reports on CABA shares. Evercore ISI decreased their target price on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research report on Friday, November 15th. TD Cowen raised Cabaletta Bio to a “strong-buy” rating in a research note on Friday. UBS Group assumed coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th.

Institutional Trading of Cabaletta Bio

A number of institutional investors have recently made changes to their positions in CABA. Fred Alger Management LLC grew its position in Cabaletta Bio by 63.3% in the third quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company’s stock valued at $19,444,000 after purchasing an additional 1,596,512 shares in the last quarter. Sofinnova Investments Inc. boosted its stake in shares of Cabaletta Bio by 184.0% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock worth $9,129,000 after buying an additional 790,654 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Cabaletta Bio in the 3rd quarter valued at about $3,150,000. Panagora Asset Management Inc. acquired a new stake in shares of Cabaletta Bio in the second quarter valued at about $2,243,000. Finally, Squarepoint Ops LLC raised its holdings in Cabaletta Bio by 643.3% during the second quarter. Squarepoint Ops LLC now owns 315,379 shares of the company’s stock worth $2,359,000 after acquiring an additional 272,948 shares in the last quarter.

Cabaletta Bio Stock Up 26.9 %

Shares of NASDAQ CABA opened at $3.82 on Friday. Cabaletta Bio has a twelve month low of $1.76 and a twelve month high of $26.35. The stock has a market cap of $186.71 million, a price-to-earnings ratio of -1.78 and a beta of 2.42. The company’s fifty day moving average is $3.88 and its 200-day moving average is $6.19.

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.