Cabaletta Bio (NASDAQ:CABA) Given Buy Rating at Guggenheim

Cabaletta Bio (NASDAQ:CABA - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Guggenheim in a research note issued on Tuesday,Benzinga reports. They currently have a $23.00 target price on the stock.

A number of other brokerages have also issued reports on CABA. Evercore ISI lowered Cabaletta Bio from an "outperform" rating to an "inline" rating and reduced their price target for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Cabaletta Bio in a report on Tuesday. Morgan Stanley decreased their target price on shares of Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating for the company 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 dropped their price target for the stock from $12.00 to $6.00 in a research report on Thursday, December 19th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $21.00.

Cabaletta Bio Trading Down 6.7 %

NASDAQ:CABA traded down $0.08 during mid-day trading on Tuesday, hitting $1.11. The stock had a trading volume of 1,634,701 shares, compared to its average volume of 1,497,163. Cabaletta Bio has a 52 week low of $1.08 and a 52 week high of $19.04. The stock has a market capitalization of $56.32 million, a price-to-earnings ratio of -0.52 and a beta of 2.44. The company has a 50 day simple moving average of $1.98 and a 200-day simple moving average of $2.89.

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Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings results on Monday, March 31st. The company reported ($0.65) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.65). As a group, equities research analysts anticipate that Cabaletta Bio will post -2.34 earnings per share for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds have recently made changes to their positions in CABA. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cabaletta Bio during the third quarter worth approximately $32,000. Point72 DIFC Ltd bought a new stake in shares of Cabaletta Bio during the 3rd quarter worth $33,000. Miller Financial Services LLC acquired a new position in shares of Cabaletta Bio in the 4th quarter worth $33,000. Avanza Fonder AB acquired a new stake in shares of Cabaletta Bio during the fourth quarter worth $40,000. Finally, Intech Investment Management LLC lifted its holdings in shares of Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company's stock valued at $46,000 after purchasing an additional 5,999 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.