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

HC Wainwright reissued their buy rating on shares of Cabaletta Bio (NASDAQ:CABA - Free Report) in a research report sent to investors on Friday,Benzinga reports. They currently have a $25.00 price target on the stock.

A number of other brokerages have also issued reports on CABA. Evercore ISI lowered shares of Cabaletta Bio from an "outperform" rating to an "inline" rating and cut their price target for the stock from $15.00 to $6.00 in a report on Friday, December 20th. William Blair reissued an "outperform" rating on shares of Cabaletta Bio in a research note on Monday, November 18th. Wells Fargo & Company lowered Cabaletta Bio from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. UBS Group initiated coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They issued a "buy" rating and a $10.00 price objective for the company. Finally, TD Cowen raised Cabaletta Bio to a "strong-buy" rating in a research report on Friday, November 29th. 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 company. According to data from MarketBeat, Cabaletta Bio currently has a consensus rating of "Buy" and a consensus price target of $24.38.

Cabaletta Bio Stock Performance

CABA traded up $0.36 on Friday, hitting $2.79. 2,366,789 shares of the company were exchanged, compared to its average volume of 1,583,065. The firm has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $4.46. The stock has a market capitalization of $136.12 million, a PE ratio of -1.30 and a beta of 2.46. Cabaletta Bio has a 12 month low of $1.76 and a 12 month high of $26.35.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC increased its holdings in shares of Cabaletta Bio by 111.6% during the third quarter. Walleye Capital LLC now owns 401,982 shares of the company's stock valued at $1,897,000 after acquiring an additional 212,025 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Cabaletta Bio during the 3rd quarter valued at about $3,150,000. Geode Capital Management LLC raised its holdings in Cabaletta Bio by 12.8% in the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company's stock worth $5,168,000 after buying an additional 124,071 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Cabaletta Bio by 490.2% in the third quarter. XTX Topco Ltd now owns 87,455 shares of the company's stock worth $413,000 after buying an additional 72,638 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Cabaletta Bio by 48.2% during the third quarter. Barclays PLC now owns 61,130 shares of the company's stock valued at $288,000 after buying an additional 19,891 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.