Cabaletta Bio (NASDAQ:CABA) Upgraded by TD Cowen to “Strong-Buy” Rating

TD Cowen upgraded shares of Cabaletta Bio (NASDAQ:CABA) to a strong-buy rating in a research note released on Friday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research note on Friday, November 15th. UBS Group assumed coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They set a “buy” rating and a $10.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Finally, Evercore ISI cut their price objective on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $26.25.

Cabaletta Bio Stock Up 26.9 %

Shares of CABA stock opened at $3.82 on Friday. The business has a fifty day simple moving average of $3.88 and a 200 day simple moving average of $6.19. The company has a market cap of $186.71 million, a P/E ratio of -1.78 and a beta of 2.42. Cabaletta Bio has a twelve month low of $1.76 and a twelve month high of $26.35.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its holdings in Cabaletta Bio by 48.2% during the 3rd quarter. Barclays PLC now owns 61,130 shares of the company’s stock worth $288,000 after purchasing an additional 19,891 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cabaletta Bio by 12.8% during the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after buying an additional 124,071 shares during the period. XTX Topco Ltd raised its stake in Cabaletta Bio by 490.2% during the third quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock worth $413,000 after buying an additional 72,638 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Cabaletta Bio in the third quarter valued at $33,000. Finally, Point72 Asset Management L.P. bought a new stake in Cabaletta Bio during the third quarter valued at $3,150,000.

About Cabaletta Bio

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. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.