Cabaletta Bio (NASDAQ:CABA) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a research report sent to investors on Tuesday,Benzinga reports. They currently have a $25.00 price objective on the stock.

Several other brokerages have also issued reports on CABA. Evercore ISI lowered Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their price target for the stock from $15.00 to $6.00 in a research note on Friday, December 20th. William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a research note on Monday, November 18th. TD Cowen raised Cabaletta Bio to a “strong-buy” rating in a research note on Friday, November 29th. Finally, Wells Fargo & Company lowered 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 note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $22.71.

Cabaletta Bio Stock Down 14.0 %

Cabaletta Bio stock opened at $2.33 on Tuesday. Cabaletta Bio has a 52 week low of $1.76 and a 52 week high of $24.85. The business has a 50-day simple moving average of $2.48 and a 200 day simple moving average of $3.66. The stock has a market cap of $113.89 million, a price-to-earnings ratio of -1.08 and a beta of 2.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CABA. Fred Alger Management LLC raised its position in Cabaletta Bio by 63.3% during the 3rd quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company’s stock valued at $19,444,000 after purchasing an additional 1,596,512 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Cabaletta Bio during the 3rd quarter worth approximately $3,150,000. Adage Capital Partners GP L.L.C. grew its holdings in shares of Cabaletta Bio by 19.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company’s stock worth $8,250,000 after acquiring an additional 597,828 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Cabaletta Bio by 195.8% during the 4th quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock worth $1,888,000 after acquiring an additional 550,700 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of Cabaletta Bio by 10.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,074,006 shares of the company’s stock worth $9,248,000 after acquiring an additional 400,282 shares during the period.

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.