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

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

CABA has been the topic of several other research reports. Wells Fargo & Company lowered shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $12.00 to $6.00 in a report on Thursday, December 19th. Evercore ISI downgraded 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 reiterated an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. Finally, UBS Group started coverage on Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $24.38.

Cabaletta Bio Stock Up 12.8 %

Cabaletta Bio stock opened at $2.74 on Friday. The company has a market capitalization of $133.92 million, a PE ratio of -1.27 and a beta of 2.46. Cabaletta Bio has a 12-month low of $1.76 and a 12-month high of $26.35. The firm’s fifty day moving average is $2.79 and its 200 day moving average is $4.46.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CABA. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cabaletta Bio in the 3rd quarter valued at $32,000. Point72 DIFC Ltd purchased a new position in Cabaletta Bio during the 3rd quarter worth $33,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Cabaletta Bio by 65.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock worth $44,000 after acquiring an additional 3,724 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Cabaletta Bio in the third quarter valued at about $67,000. Finally, Avanza Fonder AB bought a new position in shares of Cabaletta Bio during the fourth quarter valued at about $40,000.

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.