Cabaletta Bio’s (CABA) “Buy” Rating Reaffirmed at Guggenheim

Guggenheim reiterated their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a research report released on Tuesday morning,Benzinga reports. Guggenheim currently has a $23.00 price target on the stock.

CABA has been the topic of several other reports. Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their price objective for the company from $15.00 to $6.00 in a research report on Friday, December 20th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Cabaletta Bio in a report on Tuesday. Wells Fargo & Company downgraded shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $12.00 to $6.00 in a research report on Thursday, December 19th. Finally, Morgan Stanley decreased their target price on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $22.00.

Cabaletta Bio Trading Down 15.5 %

CABA stock 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 business’s 50 day simple moving average is $2.06 and its 200 day simple moving average is $2.93. The firm has a market capitalization of $57.19 million, a PE ratio of -0.54 and a beta of 2.58.

Hedge Funds Weigh In On Cabaletta Bio

Hedge funds have recently added to or reduced their stakes in the stock. 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 purchasing an additional 400,282 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Cabaletta Bio by 19.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company’s stock worth $8,250,000 after purchasing an additional 597,828 shares during the period. Point72 Asset Management L.P. grew its stake in Cabaletta Bio by 89.7% during the fourth quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company’s stock worth $2,874,000 after buying an additional 598,607 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cabaletta Bio by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,110,702 shares of the company’s stock valued at $2,522,000 after buying an additional 16,058 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Cabaletta Bio by 195.8% in the 4th quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock valued at $1,888,000 after buying an additional 550,700 shares in 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.