Fintel reports that on August 14, 2023, Guggenheim reiterated coverage of Cabaletta Bio (NASDAQ:CABA) with a Buy recommendation.
Analyst Price Forecast Suggests 27.31% Upside
As of August 2, 2023, the average one-year price target for Cabaletta Bio is 17.34. The forecasts range from a low of 10.10 to a high of $35.70. The average price target represents an increase of 27.31% from its latest reported closing price of 13.62.
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 123 funds or institutions reporting positions in Cabaletta Bio. This is an increase of 14 owner(s) or 12.84% in the last quarter. Average portfolio weight of all funds dedicated to CABA is 0.28%, a decrease of 23.82%. Total shares owned by institutions increased in the last three months by 22.36% to 29,855K shares. 
The put/call ratio of CABA is 0.31, indicating a bullish outlook.
What are Other Shareholders Doing?
Fred Alger Management holds 4,015K shares representing 10.09% ownership of the company. In it's prior filing, the firm reported owning 736K shares, representing an increase of 81.67%. The firm increased its portfolio allocation in CABA by 352.20% 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 3,059K shares representing 7.68% ownership of the company. In it's prior filing, the firm reported owning 2,167K shares, representing an increase of 29.16%. The firm increased its portfolio allocation in CABA by 39.83% over the last quarter.
Lynx1 Capital Management holds 2,455K shares representing 6.17% ownership of the company. In it's prior filing, the firm reported owning 2,826K shares, representing a decrease of 15.13%. The firm decreased its portfolio allocation in CABA by 25.14% over the last quarter.
VR Adviser holds 1,973K shares representing 4.96% ownership of the company. No change in 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.
Additional reading:
- Cabaletta Bio, Inc.
- CABALETTA BIO, INC. SECOND AMENDED AND RESTATED NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
- Cabaletta Bio Reports Second Quarter 2023 Financial Results and Provides Business Update – Received second IND application clearance for CABA-201 in myositis as well as Fast Track Designation in SLE and LN – – Strengthened balance sheet by closing $1
- Cabaletta Bio Appoints Global Commercial Leader Shawn Tomasello to Board of Directors – Ms. Tomasello created and led global commercial and medical affairs functions at Kite Pharma from pre-launch through its acquisition by Gilead Sciences –
- Disclaimer The following presentation, including any printed or electronic copy of these slides, the talks given by the presenters, the information communicated during any delivery of the presentation and any question and answer session and any docum
This story originally appeared on Fintel.
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