Cabaletta Bio (NASDAQ:CABA) Earns "Buy" Rating from HC Wainwright

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

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

Cabaletta Bio Stock Performance

Cabaletta Bio stock traded up $0.31 during trading hours on Friday, reaching $2.74. 3,034,242 shares of the company's stock traded hands, compared to its average volume of 1,284,331. Cabaletta Bio has a fifty-two week low of $1.76 and a fifty-two week high of $26.35. The firm's 50 day moving average is $2.75 and its 200-day moving average is $4.42. The firm has a market capitalization of $133.93 million, a price-to-earnings ratio of -1.27 and a beta of 2.46.

Institutional Trading of Cabaletta Bio

Several institutional investors have recently added to or reduced their stakes in CABA. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cabaletta Bio in the 3rd quarter valued at about $32,000. Point72 DIFC Ltd acquired a new stake in shares of Cabaletta Bio during the 3rd quarter worth $33,000. Avanza Fonder AB bought a new position in shares of Cabaletta Bio in the fourth quarter worth $40,000. China Universal Asset Management Co. Ltd. raised its stake in Cabaletta Bio by 65.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company's stock valued at $44,000 after purchasing an additional 3,724 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Cabaletta Bio during the 3rd quarter worth approximately $67,000.

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.