Cabaletta Bio (NASDAQ:CABA) Rating Reiterated by HC Wainwright

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued on Tuesday, Benzinga reports. They currently have a $25.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 458.04% from the company’s previous close.

A number of other brokerages have also weighed in on CABA. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 price objective on shares of Cabaletta Bio in a research report on Friday, June 21st. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective on shares of Cabaletta Bio in a research report on Monday, June 17th. Wells Fargo & Company dropped their target price on shares of Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Finally, Evercore ISI cut their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $30.11.

Cabaletta Bio Stock Up 6.9 %

NASDAQ:CABA opened at $4.48 on Tuesday. The firm has a market capitalization of $216.28 million, a P/E ratio of -2.62 and a beta of 2.40. The company has a fifty day moving average of $5.76 and a 200 day moving average of $10.66. Cabaletta Bio has a 52 week low of $3.47 and a 52 week high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.01). As a group, analysts anticipate that Cabaletta Bio will post -2.21 EPS for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Several institutional investors and hedge funds have recently modified their holdings of CABA. The Manufacturers Life Insurance Company grew its position in Cabaletta Bio by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock valued at $422,000 after purchasing an additional 4,191 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Cabaletta Bio by 24.8% in 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 in the last quarter. AXA S.A. grew its holdings in shares of Cabaletta Bio by 52.0% during the second quarter. AXA S.A. now owns 270,778 shares of the company’s stock valued at $2,025,000 after buying an additional 92,616 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Cabaletta Bio by 643.3% during the second quarter. Squarepoint Ops LLC now owns 315,379 shares of the company’s stock valued at $2,359,000 after acquiring an additional 272,948 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Cabaletta Bio by 92.9% in the 2nd quarter. Marshall Wace LLP now owns 330,187 shares of the company’s stock worth $2,470,000 after acquiring an additional 159,000 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.