Cabaletta Bio's (CABA) "Buy" Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cabaletta Bio (NASDAQ:CABA - Free Report) in a research note released on Friday,Benzinga reports. HC Wainwright currently has a $25.00 price target on the stock.

Several other brokerages have also recently issued reports on CABA. Evercore ISI reduced their price objective on Cabaletta Bio from $25.00 to $15.00 and set an "outperform" rating for the company in a research note on Monday, August 12th. Wells Fargo & Company reduced their price objective on Cabaletta Bio from $35.00 to $20.00 and set an "overweight" rating for the company in a research note on Monday, August 12th. Finally, UBS Group began coverage on Cabaletta Bio in a research note on Thursday, October 10th. They issued a "buy" rating and a $10.00 price objective for the company. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $27.30.

Cabaletta Bio Stock Down 19.8 %

Shares of NASDAQ:CABA traded down $0.75 during trading on Friday, hitting $3.03. The stock had a trading volume of 3,847,878 shares, compared to its average volume of 1,089,776. Cabaletta Bio has a 12-month low of $2.96 and a 12-month high of $26.35. The stock has a market capitalization of $148.02 million, a price-to-earnings ratio of -1.63 and a beta of 2.42. The stock has a 50-day simple moving average of $4.25 and a two-hundred day simple moving average of $6.98.

Institutional Trading of Cabaletta Bio

A number of institutional investors have recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in shares of Cabaletta Bio by 1.6% in the third quarter. Jennison Associates LLC now owns 5,632,681 shares of the company's stock worth $26,586,000 after acquiring an additional 86,214 shares during the last quarter. Fred Alger Management LLC boosted its stake in shares of Cabaletta Bio by 63.3% in the third quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company's stock worth $19,444,000 after acquiring an additional 1,596,512 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Cabaletta Bio by 6.8% in the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company's stock worth $38,832,000 after acquiring an additional 144,291 shares during the last quarter. Sofinnova Investments Inc. boosted its stake in shares of Cabaletta Bio by 184.0% in the second quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company's stock worth $9,129,000 after acquiring an additional 790,654 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Cabaletta Bio by 24.8% during the second quarter. Millennium Management LLC now owns 698,317 shares of the company's stock worth $5,223,000 after buying an additional 138,950 shares during the last quarter.

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.