Can Buying Cabaletta Bio Inc. (NASDAQ: CABA) Still Be Worthwhile?

Cabaletta Bio Inc. (NASDAQ:CABA) does about 826.67K shares in volume on a normal day but saw 420371 shares change hands in Friday trading. The company now has a market cap of 242.74M USD. Its current market price is $7.93, marking a decrease of -0.25% compared to the previous close of $7.95. The 52 week high reached by this stock is $12.88 whilst the lowest price level in 52 weeks is $0.59. The script in recent trading has seen the stock touch a high of $8.18 and a low of $7.66.

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Cabaletta Bio Inc. (CABA) has a 20-day trading average at $10.88 and the current price is -38.43% off the 52-week high compared with 1244.07% distance from its 52-week low. The 50-day simple moving average of the closing price is $9.38 and its 200-day simple moving average is $3.52. If we look at the stock’s price movements over the week, volatility stands at 11.35%, which decreases to 10.23% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 34.56 to suggest the stock is neutral.

7 analysts observing the Cabaletta Bio Inc. (CABA) stock have set the 12-month price targets for the company’s shares at between $10.00 and $18.00. The consensus objective for the share price is $12.83, suggesting that the stock has a potential upside of 38.19% over the period. The median price target is 39.0% away from the current levels at $13.00.

FactSet Research has provided data showing that 7 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 7 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Moderate Buy the stock.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 27, 2023 when Morgan Stanley upgraded the stock to “Overweight” and issued a price target of between $3 and $16. Morgan Stanley downgraded the stock to “Equal-Weight” from Overweight on August 30, 2022 at a price target of $15-$3. Wells Fargo initiated its price target at $17.

The current price level is -27.90%, -14.92%, and 127.41% away from its SMA20, SMA50, and SMA200 respectively, with the CABA price moving above the 50-day SMA on February 17. Cabaletta Bio Inc. (CABA) stock is down -24.98% over the week and -25.96% over the past month. Its price is -14.27% year-to-date and 192.62% over the past year.

The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.39 above consensus estimates by $0.09. The company’s next earnings report is expected on 05/16/2023, with forecasts estimating quarterly EPS at -$0.45 and -$1.73 for whole year. CABA’s earnings per share are forecast to grow by 3.90% this year and 19.70% over next year.

Its 12-month price target is $13.00. To reach the target analysts have set, the stock logically needs to grow 38.19 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $10.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $18.00.

Outstanding shares total 29.01M with insiders holding 11.31% of the shares and institutional holders owning 56.69% of the company’s common stock. The company has a return on equity of -50.40%. The beta has a value of 2.50. Price to book ratio is 2.68.

According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has added its position in Cabaletta Bio Inc. (CABA) to 748,163 shares, mirroring a recent increase by 24.31%. Vanguard Total Stock Market Index added 0.15 million shares of Cabaletta Bio Inc. common stock bringing its total worth to about $9.12 million at the end of recent close, SEC documents show. Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by Vanguard Extended Market Index Fu, which added 5803.0 shares to end up with 286,448 shares worth $3.49 million. CI Global Health Sciences Corpora raise their holdings by 7.69% in the company over the course of the most recent quarter. It now holds a 0.48% position in Cabaletta Bio Inc. thanks to 0.14 million shares amounting to $1.71 million.

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