Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) Target Price at $34.44

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have received an average rating of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $34.44.

Several brokerages recently issued reports on CABA. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Cabaletta Bio in a research report on Friday, June 14th. Citigroup raised their target price on Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 price objective on shares of Cabaletta Bio in a research report on Monday, June 17th. Wells Fargo & Company lifted their price objective on Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $50.00 price objective on shares of Cabaletta Bio in a research report on Friday, June 21st.

Institutional Trading of Cabaletta Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. bought a new stake in Cabaletta Bio in the 1st quarter valued at about $1,403,000. Teachers Retirement System of The State of Kentucky bought a new stake in Cabaletta Bio in the 1st quarter valued at about $305,000. California State Teachers Retirement System increased its position in Cabaletta Bio by 6.0% in the 1st quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock valued at $519,000 after buying an additional 1,711 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Cabaletta Bio in the 1st quarter valued at about $191,000. Finally, Price T Rowe Associates Inc. MD increased its position in Cabaletta Bio by 16.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock valued at $10,448,000 after buying an additional 84,633 shares in the last quarter.

Cabaletta Bio Stock Up 2.2 %

Shares of NASDAQ:CABA opened at $7.55 on Tuesday. The firm has a market cap of $364.51 million, a P/E ratio of -4.42 and a beta of 2.42. Cabaletta Bio has a 12-month low of $6.90 and a 12-month high of $26.35. The business has a fifty day simple moving average of $10.45 and a 200 day simple moving average of $16.93.

Cabaletta Bio (NASDAQ:CABA) last announced its earnings results on Wednesday, May 15th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.03). As a group, equities research analysts expect that Cabaletta Bio will post -2.07 EPS for the current year.

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.