William Blair Reaffirms Outperform Rating for Cabaletta Bio (NASDAQ:CABA)

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “outperform” rating reissued by research analysts at William Blair in a research report issued to clients and investors on Monday,RTT News reports.

A number of other research analysts have also issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, November 15th. UBS Group started coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They set a “buy” rating and a $10.00 price target on the stock. Evercore ISI reduced their price objective 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Friday, November 15th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $27.30.

Cabaletta Bio Stock Performance

Shares of CABA opened at $2.54 on Monday. The stock has a market capitalization of $124.16 million, a price-to-earnings ratio of -1.18 and a beta of 2.42. Cabaletta Bio has a 52 week low of $2.41 and a 52 week high of $26.35. The stock has a fifty day moving average of $4.16 and a 200-day moving average of $6.72.

Institutional Investors Weigh In On Cabaletta Bio

Several institutional investors and hedge funds have recently made changes to their positions in CABA. Swiss National Bank lifted its stake in Cabaletta Bio by 16.1% in the first quarter. Swiss National Bank now owns 59,200 shares of the company’s stock valued at $1,010,000 after buying an additional 8,200 shares during the period. Blair William & Co. IL lifted its position in shares of Cabaletta Bio by 47.3% during the 1st quarter. Blair William & Co. IL now owns 27,300 shares of the company’s stock valued at $466,000 after acquiring an additional 8,762 shares during the period. Vanguard Group Inc. boosted its stake in Cabaletta Bio by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock worth $38,832,000 after acquiring an additional 144,291 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Cabaletta Bio in the first quarter worth $147,000. Finally, Westwood Holdings Group Inc. bought a new stake in Cabaletta Bio in the first quarter valued at $1,403,000.

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.