Fintel reports that on October 10, 2024, UBS initiated coverage of Cabaletta Bio (NasdaqGS:CABA) with a Buy recommendation.
Analyst Price Forecast Suggests 528.35% Upside
As of September 25, 2024, the average one-year price target for Cabaletta Bio is $24.82/share. The forecasts range from a low of $15.15 to a high of $36.75. The average price target represents an increase of 528.35% from its latest reported closing price of $3.95 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cabaletta Bio is 2MM. The projected annual non-GAAP EPS is -1.77.
What is the Fund Sentiment?
There are 334 funds or institutions reporting positions in Cabaletta Bio. This is an decrease of 18 owner(s) or 5.11% in the last quarter. Average portfolio weight of all funds dedicated to CABA is 0.10%, an increase of 45.51%. Total shares owned by institutions increased in the last three months by 4.60% to 60,959K shares. 
The put/call ratio of CABA is 0.49, indicating a bullish outlook.
What are Other Shareholders Doing?
Jennison Associates holds 5,546K shares representing 11.35% ownership of the company. In its prior filing, the firm reported owning 3,423K shares , representing an increase of 38.29%. The firm decreased its portfolio allocation in CABA by 31.89% over the last quarter.
T. Rowe Price Investment Management holds 3,878K shares representing 7.94% ownership of the company. In its prior filing, the firm reported owning 2,470K shares , representing an increase of 36.30%. The firm decreased its portfolio allocation in CABA by 29.00% over the last quarter.
Adage Capital Partners Gp, L.l.c. holds 3,037K shares representing 6.22% ownership of the company. No change in the last quarter.
Alkeon Capital Management holds 2,618K shares representing 5.36% ownership of the company. In its prior filing, the firm reported owning 500K shares , representing an increase of 80.90%. The firm decreased its portfolio allocation in CABA by 10.10% over the last quarter.
Fred Alger Management holds 2,523K shares representing 5.16% ownership of the company. In its prior filing, the firm reported owning 3,110K shares , representing a decrease of 23.28%. The firm decreased its portfolio allocation in CABA by 67.73% 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.
