Cabaletta Bio (NASDAQ:CABA) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a report published on Friday,Benzinga reports. They currently have a $25.00 price target on the stock.

A number of other equities research analysts have also issued reports on CABA. Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and cut their price target for the company from $15.00 to $6.00 in a report on Friday, December 20th. Wells Fargo & Company downgraded shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. UBS Group started coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 price objective on the stock. Finally, TD Cowen raised shares of Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cabaletta Bio currently has an average rating of “Buy” and an average target price of $24.38.

Cabaletta Bio Price Performance

NASDAQ CABA opened at $2.74 on Friday. The company’s 50 day simple moving average is $2.75 and its 200 day simple moving average is $4.40. Cabaletta Bio has a 12 month low of $1.76 and a 12 month high of $26.35. The company has a market capitalization of $133.93 million, a P/E ratio of -1.27 and a beta of 2.46.

Institutional Trading of Cabaletta Bio

Large investors have recently modified their holdings of the company. Jennison Associates LLC raised its stake in Cabaletta Bio by 1.6% during the 3rd quarter. Jennison Associates LLC now owns 5,632,681 shares of the company’s stock valued at $26,586,000 after purchasing an additional 86,214 shares during the last quarter. Fred Alger Management LLC raised its stake in Cabaletta Bio by 63.3% during the 3rd quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company’s stock valued at $19,444,000 after purchasing an additional 1,596,512 shares during the last quarter. Geode Capital Management LLC raised its stake in Cabaletta Bio by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock valued at $5,168,000 after purchasing an additional 124,071 shares during the last quarter. Millennium Management LLC raised its stake in Cabaletta Bio by 24.8% during the 2nd quarter. Millennium Management LLC now owns 698,317 shares of the company’s stock valued at $5,223,000 after purchasing an additional 138,950 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Cabaletta Bio during the 3rd quarter valued at $3,150,000.

Cabaletta Bio Company Profile

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.