HC Wainwright Reiterates Buy Rating for Cabaletta Bio (NASDAQ:CABA)

HC Wainwright restated their buy rating on shares of Cabaletta Bio (NASDAQ:CABA - Free Report) in a report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $25.00 price objective on the stock.

Several other brokerages also recently weighed in on CABA. TD Cowen raised Cabaletta Bio to a "strong-buy" rating in a report on Friday, November 29th. Evercore ISI downgraded Cabaletta Bio from an "outperform" rating to an "inline" rating and decreased their target price for the stock from $15.00 to $6.00 in a report on Friday, December 20th. William Blair reaffirmed an "outperform" rating on shares of Cabaletta Bio in a report on Monday, November 18th. Finally, Wells Fargo & Company downgraded Cabaletta Bio from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $12.00 to $6.00 in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cabaletta Bio presently has an average rating of "Buy" and a consensus price target of $22.71.

Cabaletta Bio Price Performance

NASDAQ CABA traded down $0.05 during trading on Tuesday, hitting $2.05. The company's stock had a trading volume of 1,138,846 shares, compared to its average volume of 1,299,480. The company has a market cap of $99.96 million, a PE ratio of -0.95 and a beta of 2.47. The business's 50 day simple moving average is $2.42 and its 200-day simple moving average is $3.55. Cabaletta Bio has a fifty-two week low of $1.76 and a fifty-two week high of $24.85.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Two Sigma Advisers LP lifted its holdings in Cabaletta Bio by 195.8% in the fourth quarter. Two Sigma Advisers LP now owns 831,900 shares of the company's stock valued at $1,888,000 after acquiring an additional 550,700 shares during the period. Two Sigma Investments LP lifted its holdings in Cabaletta Bio by 78.8% in the fourth quarter. Two Sigma Investments LP now owns 751,894 shares of the company's stock valued at $1,707,000 after acquiring an additional 331,417 shares during the period. Raiffeisen Bank International AG acquired a new position in Cabaletta Bio in the fourth quarter valued at approximately $493,000. Point72 Asset Management L.P. increased its position in shares of Cabaletta Bio by 89.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company's stock valued at $2,874,000 after buying an additional 598,607 shares in the last quarter. Finally, Integral Health Asset Management LLC increased its position in shares of Cabaletta Bio by 11.1% in the fourth quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company's stock valued at $1,135,000 after buying an additional 50,000 shares in 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.