Cabaletta Bio’s (CABA) Buy Rating Reiterated at HC Wainwright

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

Several other analysts also recently issued reports on the company. Evercore ISI lowered their price target on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, August 12th. UBS Group assumed coverage on Cabaletta Bio in a report on Thursday, October 10th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Wells Fargo & Company lowered their price objective 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. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Cabaletta Bio currently has a consensus rating of “Buy” and an average price target of $27.30.

Cabaletta Bio Stock Performance

Shares of NASDAQ:CABA opened at $3.03 on Friday. Cabaletta Bio has a 1 year low of $2.96 and a 1 year high of $26.35. The stock has a 50-day simple moving average of $4.23 and a 200-day simple moving average of $6.86. The stock has a market capitalization of $148.02 million, a P/E ratio of -1.41 and a beta of 2.42.

Institutional Investors Weigh In On Cabaletta Bio

A number of institutional investors have recently modified their holdings of CABA. Point72 Asia Singapore Pte. Ltd. bought a new stake in Cabaletta Bio in the third quarter valued at about $32,000. Point72 DIFC Ltd bought a new stake in shares of Cabaletta Bio in the 3rd quarter valued at approximately $33,000. China Universal Asset Management Co. Ltd. raised its position in shares of Cabaletta Bio by 65.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after acquiring an additional 3,724 shares in the last quarter. Intech Investment Management LLC acquired a new position in Cabaletta Bio in the third quarter worth $67,000. Finally, GSA Capital Partners LLP bought a new stake in Cabaletta Bio during the third quarter valued at $127,000.

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.