Chardan Capital Reiterates “Buy” Rating for Cabaletta Bio (NASDAQ:CABA)

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. They currently have a $21.00 price target on the stock. Chardan Capital’s price target would indicate a potential upside of 57.89% from the stock’s current price.

CABA has been the subject of several other research reports. HC Wainwright began coverage on shares of Cabaletta Bio in a research report on Tuesday, October 13th. They set a “buy” rating and a $20.00 price target for the company. ValuEngine upgraded Cabaletta Bio from a “hold” rating to a “buy” rating in a report on Tuesday, December 22nd. Zacks Investment Research cut Cabaletta Bio from a “buy” rating to a “hold” rating in a report on Monday, January 4th. Finally, BidaskClub downgraded Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Monday, December 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $19.00.

CABA stock opened at $13.30 on Friday. The stock has a market capitalization of $319.93 million, a price-to-earnings ratio of -9.71 and a beta of 1.67. Cabaletta Bio has a 52-week low of $5.51 and a 52-week high of $19.63. The stock’s fifty day simple moving average is $13.89 and its 200-day simple moving average is $12.13.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Sunday, November 15th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.08. As a group, sell-side analysts forecast that Cabaletta Bio will post -1.38 EPS for the current year.

In other Cabaletta Bio news, major shareholder Ventures V. L.P. 5Am sold 298,000 shares of the firm’s stock in a transaction dated Thursday, December 10th. The stock was sold at an average price of $14.75, for a total value of $4,395,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.51% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in Cabaletta Bio by 20.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,128 shares of the company’s stock valued at $189,000 after purchasing an additional 3,093 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Cabaletta Bio by 13.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 28,600 shares of the company’s stock valued at $319,000 after buying an additional 3,297 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Cabaletta Bio by 99.3% during the second quarter. Bank of America Corp DE now owns 6,659 shares of the company’s stock valued at $75,000 after acquiring an additional 3,317 shares in the last quarter. American International Group Inc. increased its position in shares of Cabaletta Bio by 100.6% during the second quarter. American International Group Inc. now owns 7,896 shares of the company’s stock worth $88,000 after acquiring an additional 3,960 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Cabaletta Bio by 22.6% in the third quarter. Morgan Stanley now owns 45,344 shares of the company’s stock worth $492,000 after acquiring an additional 8,357 shares in the last quarter. Institutional investors own 68.00% of the company’s stock.

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. Its proprietary technology utilizes chimeric autoantibody receptor (CAAR) T cells that are designed to selectively bind and eliminate B cells, which produce disease-causing autoantibodies or pathogenic B cells.

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