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

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

A number of other brokerages also recently issued reports on CABA. UBS Group initiated coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They issued a “buy” rating and a $10.00 price target for the company. Evercore ISI lowered their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Finally, Wells Fargo & Company cut their price target on Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, Cabaletta Bio has an average rating of “Buy” and an average target price of $28.10.

Cabaletta Bio Price Performance

CABA stock opened at $3.78 on Friday. The business’s 50-day moving average is $4.27 and its two-hundred day moving average is $7.00. The firm has a market capitalization of $184.65 million, a P/E ratio of -1.99 and a beta of 2.42. Cabaletta Bio has a 1 year low of $3.47 and a 1 year high of $26.35.

Institutional Investors Weigh In On Cabaletta Bio

Large investors have recently modified their holdings of the company. E Fund Management Co. Ltd. raised its stake in Cabaletta Bio by 1,610.1% during the 2nd quarter. E Fund Management Co. Ltd. now owns 286,424 shares of the company’s stock valued at $2,142,000 after acquiring an additional 269,675 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Cabaletta Bio by 16.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock worth $10,448,000 after purchasing an additional 84,633 shares during the period. Vanguard Group Inc. raised its stake in shares of Cabaletta Bio by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock worth $38,832,000 after buying an additional 144,291 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Cabaletta Bio in the 1st quarter valued at approximately $305,000. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Cabaletta Bio in the first quarter valued at approximately $1,403,000.

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.