Analysts Set Cabaletta Bio, Inc. (NASDAQ:CABA) Target Price at $27.30

Cabaletta Bio, Inc. (NASDAQ:CABA) has earned a consensus recommendation of “Buy” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $26.25.

Several equities analysts have issued reports on the company. 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 report on Friday. Evercore ISI reduced their price target on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. William Blair restated an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Finally, UBS Group assumed coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 target price on the stock.

Cabaletta Bio Trading Up 26.9 %

NASDAQ:CABA opened at $3.82 on Friday. The stock has a market capitalization of $186.71 million, a P/E ratio of -1.78 and a beta of 2.42. Cabaletta Bio has a 1 year low of $1.76 and a 1 year high of $26.35. The firm has a 50 day moving average of $3.88 and a 200-day moving average of $6.19.

Institutional Investors Weigh In On Cabaletta Bio

Several institutional investors have recently modified their holdings of the business. Barclays PLC boosted its stake in Cabaletta Bio by 48.2% in the third quarter. Barclays PLC now owns 61,130 shares of the company’s stock valued at $288,000 after acquiring an additional 19,891 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cabaletta Bio by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock valued at $5,168,000 after purchasing an additional 124,071 shares during the period. XTX Topco Ltd boosted its position in shares of Cabaletta Bio by 490.2% in the 3rd quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock worth $413,000 after purchasing an additional 72,638 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Cabaletta Bio during the third quarter worth $33,000. Finally, Point72 Asset Management L.P. bought a new stake in Cabaletta Bio in the third quarter valued at about $3,150,000.

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.