Cabaletta Bio (NASDAQ:CABA) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a report issued on Tuesday morning,Benzinga reports. HC Wainwright currently has a $25.00 price target on the stock.

A number of other research analysts have also recently weighed in on the company. Wells Fargo & Company cut Cabaletta Bio from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. Evercore ISI cut shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and lowered their price objective for the company from $15.00 to $6.00 in a research note on Friday, December 20th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cabaletta Bio currently has a consensus rating of “Buy” and a consensus price target of $22.00.

Cabaletta Bio Price Performance

CABA opened at $1.17 on Tuesday. Cabaletta Bio has a 1-year low of $1.16 and a 1-year high of $19.04. The stock has a market cap of $57.19 million, a P/E ratio of -0.54 and a beta of 2.58. The stock’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $2.93.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cabaletta Bio during the third quarter valued at approximately $32,000. Point72 DIFC Ltd acquired a new position in Cabaletta Bio in the 3rd quarter valued at $33,000. Miller Financial Services LLC purchased a new position in shares of Cabaletta Bio during 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 grew its position in shares of Cabaletta Bio by 42.2% in 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 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.