Brokerages Set Cabaletta Bio, Inc. (NASDAQ:CABA) Target Price at $22.71

Shares of Cabaletta Bio, Inc. (NASDAQ:CABA) have been given a consensus rating of “Buy” by the eight brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $22.71.

CABA has been the topic of several recent research reports. Wells Fargo & Company cut Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $12.00 to $6.00 in a report on Thursday, December 19th. TD Cowen raised Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a report on Tuesday. Evercore ISI cut Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their price objective for the stock from $15.00 to $6.00 in a report on Friday, December 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th.

Cabaletta Bio Trading Down 14.0 %

NASDAQ CABA opened at $2.33 on Wednesday. The stock’s 50 day moving average is $2.48 and its 200 day moving average is $3.66. Cabaletta Bio has a 12 month low of $1.76 and a 12 month high of $24.85. The stock has a market cap of $113.89 million, a PE ratio of -1.08 and a beta of 2.47.

Institutional Trading of Cabaletta Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Walleye Capital LLC grew its position in Cabaletta Bio by 111.6% in the 3rd quarter. Walleye Capital LLC now owns 401,982 shares of the company’s stock valued at $1,897,000 after acquiring an additional 212,025 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Cabaletta Bio in the 3rd quarter valued at $3,150,000. Geode Capital Management LLC grew its position in 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 acquiring an additional 124,071 shares during the last quarter. Barclays PLC grew its position in Cabaletta Bio by 48.2% in the 3rd 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. Finally, XTX Topco Ltd grew its position in Cabaletta Bio by 490.2% in the 3rd quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock valued at $413,000 after acquiring an additional 72,638 shares during the last quarter.

About Cabaletta Bio

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.