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

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued on Friday,Benzinga reports. They presently have a $25.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research note on Friday, November 29th. Wells Fargo & Company downgraded shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. UBS Group began coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 target price for the company. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. Finally, Evercore ISI lowered Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their price objective for the stock from $15.00 to $6.00 in a research note on Friday, December 20th. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $24.38.

Cabaletta Bio Stock Up 9.5 %

NASDAQ CABA opened at $2.43 on Friday. Cabaletta Bio has a 52 week low of $1.76 and a 52 week high of $26.35. The company has a market capitalization of $118.78 million, a P/E ratio of -1.13 and a beta of 2.46. The stock’s 50-day moving average price is $2.83 and its 200-day moving average price is $4.47.

Institutional Investors Weigh In On Cabaletta Bio

Several large investors have recently made changes to their positions in CABA. Point72 Asia Singapore Pte. Ltd. bought a new position in Cabaletta Bio during the third quarter valued at approximately $32,000. Point72 DIFC Ltd purchased a new stake in shares of Cabaletta Bio during the 3rd quarter worth approximately $33,000. Avanza Fonder AB bought a new position in shares of Cabaletta Bio during the 4th quarter valued at approximately $40,000. China Universal Asset Management Co. Ltd. boosted 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 during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Cabaletta Bio in the third quarter valued at $67,000.

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.