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

HC Wainwright reiterated their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a research report released on Friday morning,Benzinga reports. They currently have a $25.00 price objective on the stock.

A number of other research analysts have also recently issued reports on CABA. William Blair reiterated an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. UBS Group began coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 price objective for the company. Wells Fargo & Company lowered shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. Finally, Evercore ISI downgraded Cabaletta Bio from an “outperform” rating to an “inline” rating and cut their price objective for the company from $15.00 to $6.00 in a report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $24.38.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $2.74 on Friday. Cabaletta Bio has a fifty-two week low of $1.76 and a fifty-two week high of $26.35. The stock’s fifty day moving average price is $2.79 and its two-hundred day moving average price is $4.46. The company has a market cap of $133.92 million, a PE ratio of -1.27 and a beta of 2.46.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CABA. SG Americas Securities LLC lifted its stake in shares of Cabaletta Bio by 23.3% in the fourth quarter. SG Americas Securities LLC now owns 43,259 shares of the company’s stock worth $98,000 after acquiring an additional 8,161 shares during the period. Avanza Fonder AB bought a new position in Cabaletta Bio during the fourth quarter worth $40,000. Barclays PLC lifted its holdings in Cabaletta Bio by 48.2% in the third quarter. Barclays PLC now owns 61,130 shares of the company’s stock valued at $288,000 after buying an additional 19,891 shares during the period. Geode Capital Management LLC boosted its position in Cabaletta Bio by 12.8% during the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock valued at $5,168,000 after acquiring an additional 124,071 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in Cabaletta Bio by 490.2% during the 3rd quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock worth $413,000 after acquiring an additional 72,638 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.