UBS Group Begins Coverage on Cabaletta Bio (NASDAQ:CABA)

UBS Group began coverage on shares of Cabaletta Bio (NASDAQ:CABA) in a report released on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $10.00 price target on the stock.

Several other analysts also recently commented on CABA. Cantor Fitzgerald restated an overweight rating and issued a $50.00 target price on shares of Cabaletta Bio in a research note on Friday, June 21st. Stifel Nicolaus restated a buy rating and set a $32.00 price objective on shares of Cabaletta Bio in a report on Monday, June 17th. Evercore ISI reduced their price target on shares of Cabaletta Bio from $25.00 to $15.00 and set an outperform rating for the company in a research report on Monday, August 12th. HC Wainwright restated a buy rating and set a $25.00 price objective on shares of Cabaletta Bio in a report on Tuesday, September 17th. Finally, Wells Fargo & Company reduced their price objective on shares of Cabaletta Bio from $35.00 to $20.00 and set an overweight rating for the company in a report on Monday, August 12th. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $28.10.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $4.21 on Thursday. Cabaletta Bio has a fifty-two week low of $3.47 and a fifty-two week high of $26.35. The stock has a 50 day simple moving average of $4.75 and a two-hundred day simple moving average of $8.84. The company has a market cap of $205.66 million, a P/E ratio of -2.22 and a beta of 2.39.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Thursday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). On average, research analysts predict that Cabaletta Bio will post -2.28 earnings per share for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds have recently modified their holdings of CABA. Jennison Associates LLC increased its position in shares of Cabaletta Bio by 110.4% during the first quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock valued at $58,396,000 after acquiring an additional 1,796,356 shares during the last quarter. Vanguard Group Inc. grew its stake in Cabaletta Bio by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock valued at $38,832,000 after purchasing an additional 144,291 shares during the period. Perceptive Advisors LLC increased its position in shares of Cabaletta Bio by 76.9% during the 4th quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company’s stock valued at $45,469,000 after purchasing an additional 870,567 shares during the last quarter. Sofinnova Investments Inc. raised its stake in shares of Cabaletta Bio by 184.0% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock worth $9,129,000 after purchasing an additional 790,654 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Cabaletta Bio by 24.8% in the 2nd quarter. Millennium Management LLC now owns 698,317 shares of the company’s stock worth $5,223,000 after buying an additional 138,950 shares during the last quarter.

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.