Fintel reports that on October 4, 2023, HC Wainwright & Co. reiterated coverage of Cabaletta Bio (NASDAQ:CABA) with a Buy recommendation.
Analyst Price Forecast Suggests 36.46% Upside
As of August 31, 2023, the average one-year price target for Cabaletta Bio is 20.20. The forecasts range from a low of 14.14 to a high of $35.70. The average price target represents an increase of 36.46% from its latest reported closing price of 14.80.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cabaletta Bio is 0MM. The projected annual non-GAAP EPS is -1.53.
What is the Fund Sentiment?
There are 187 funds or institutions reporting positions in Cabaletta Bio. This is an increase of 67 owner(s) or 55.83% in the last quarter. Average portfolio weight of all funds dedicated to CABA is 0.26%, a decrease of 9.61%. Total shares owned by institutions increased in the last three months by 44.82% to 41,904K shares. 
The put/call ratio of CABA is 0.35, indicating a bullish outlook.
What are Other Shareholders Doing?
Fred Alger Management holds 4,573K shares representing 11.49% ownership of the company. In it's prior filing, the firm reported owning 4,015K shares, representing an increase of 12.19%. The firm increased its portfolio allocation in CABA by 80.73% over the last quarter.
Adage Capital Partners Gp, L.l.c. holds 3,267K shares representing 8.21% ownership of the company. In it's prior filing, the firm reported owning 2,542K shares, representing an increase of 22.19%. The firm increased its portfolio allocation in CABA by 94.35% over the last quarter.
AOFAX - Alger Small Cap Focus Fund holds 3,221K shares representing 8.09% ownership of the company. In it's prior filing, the firm reported owning 3,059K shares, representing an increase of 5.03%. The firm increased its portfolio allocation in CABA by 42.17% over the last quarter.
Commodore Capital holds 2,368K shares representing 5.95% ownership of the company. In it's prior filing, the firm reported owning 1,835K shares, representing an increase of 22.51%. The firm increased its portfolio allocation in CABA by 48.71% over the last quarter.
Deerfield Management Company, L.p. holds 2,340K shares representing 5.88% ownership of the company. In it's prior filing, the firm reported owning 464K shares, representing an increase of 80.16%. The firm increased its portfolio allocation in CABA by 653.52% over the last quarter.
Cabaletta Bio Background Information
(This description is provided by the company.)
Cabaletta Bio is a clinical-stage biotechnology company focused on the discovery and development of engineered T cell therapies, and exploring their potential to provide a deep and durable, perhaps curative, treatment, for patients with B cell-mediated autoimmune diseases. The Cabaletta Approach to selective B cell Ablation (CABA) platform, in combination with Cabaletta's proprietary technology, utilizes Chimeric AutoAntibody Receptor (CAAR) T cells that are designed to selectively bind and eliminate only specific autoantibody-producing B cells while sparing normal antibody-producing B cells, which are essential for human health. The Company's lead product candidate, DSG3-CAART, is being evaluated in the DesCAARTes™ phase 1 clinical trial as a potential treatment for patients with mucosal pemphigus vulgaris, a prototypical B cell-mediated autoimmune disease. The FDA granted Fast Track Designation for DSG3-CAART in May 2020. The Company's lead preclinical product candidate, MuSK-CAART, is in IND-enabling studies and is designed as a potential treatment for patients with MuSK-associated myasthenia gravis.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
