Guggenheim Reiterates Buy Rating for Cabaletta Bio (NASDAQ:CABA)

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating reiterated by equities research analysts at Guggenheim in a research note issued on Tuesday,Benzinga reports. They currently have a $23.00 price target on the stock.

Several other research firms have also recently weighed in on CABA. Evercore ISI cut Cabaletta Bio from an “outperform” rating to an “inline” rating and reduced their price objective for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. Morgan Stanley decreased their price target on shares of Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research report on Tuesday. Finally, Wells Fargo & Company downgraded shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $22.00.

Cabaletta Bio Stock Up 6.0 %

Shares of CABA stock opened at $1.24 on Tuesday. Cabaletta Bio has a 12-month low of $1.16 and a 12-month high of $19.04. The firm has a fifty day moving average of $2.03 and a 200-day moving average of $2.92. The company has a market capitalization of $60.61 million, a price-to-earnings ratio of -0.58 and a beta of 2.58.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds have recently bought and sold shares of CABA. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cabaletta Bio in the third quarter valued at approximately $32,000. Point72 DIFC Ltd acquired a new position in shares of Cabaletta Bio during the 3rd quarter worth approximately $33,000. Intech Investment Management LLC bought a new stake in Cabaletta Bio in the 3rd quarter valued at $67,000. Miller Financial Services LLC bought a new stake in Cabaletta Bio in the 4th quarter valued at $33,000. Finally, Avanza Fonder AB acquired a new stake in Cabaletta Bio during the 4th quarter valued at $40,000.

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.