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

Cabaletta Bio, Inc. (NASDAQ:CABA) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One investment 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 1-year price target among analysts that have covered the stock in the last year is $22.71.

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

Cabaletta Bio Trading Down 6.8 %

Shares of Cabaletta Bio stock opened at $1.78 on Friday. The company’s fifty day simple moving average is $2.26 and its two-hundred day simple moving average is $3.26. The company has a market cap of $87.00 million, a P/E ratio of -0.83 and a beta of 2.58. Cabaletta Bio has a 12-month low of $1.59 and a 12-month high of $20.24.

Hedge Funds Weigh In On Cabaletta Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cabaletta Bio during the third quarter valued at approximately $32,000. Point72 DIFC Ltd bought a new stake in shares of Cabaletta Bio during the third quarter valued at approximately $33,000. Miller Financial Services LLC bought a new stake in shares of Cabaletta Bio during the fourth quarter valued at approximately $33,000. Avanza Fonder AB bought a new stake in shares of Cabaletta Bio during the fourth quarter valued at approximately $40,000. Finally, Intech Investment Management LLC increased its position in shares of Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock valued at $46,000 after acquiring an additional 5,999 shares in 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.