HC Wainwright Reiterates “Buy” Rating for Cabaletta Bio (NASDAQ:CABA)

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

Several other equities research analysts have also issued reports on the company. Evercore ISI reduced their price target on Cabaletta Bio from $25.00 to $15.00 and set an outperform rating for the company in a report on Monday, August 12th. Stifel Nicolaus reiterated a buy rating and issued a $32.00 target price on shares of Cabaletta Bio in a research note on Monday, June 17th. Wells Fargo & Company decreased their target price on shares of Cabaletta Bio from $35.00 to $20.00 and set an overweight rating for the company in a research report on Monday, August 12th. Finally, Cantor Fitzgerald restated an overweight rating and set a $50.00 price target on shares of Cabaletta Bio in a report on Friday, June 21st. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy and a consensus target price of $30.11.

Cabaletta Bio Stock Performance

Cabaletta Bio stock opened at $4.70 on Tuesday. Cabaletta Bio has a twelve month low of $3.47 and a twelve month high of $26.35. The firm has a market cap of $226.90 million, a PE ratio of -2.75 and a beta of 2.40. The firm’s 50 day moving average price is $5.62 and its two-hundred day moving average price is $10.50.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). Equities analysts anticipate that Cabaletta Bio will post -2.21 EPS for the current fiscal year.

Institutional Trading of Cabaletta Bio

A number of institutional investors and hedge funds have recently modified their holdings of CABA. TD Asset Management Inc acquired a new position in Cabaletta Bio in the 4th quarter valued at $2,125,000. Rafferty Asset Management LLC grew its position in shares of Cabaletta Bio by 77.1% in the fourth quarter. Rafferty Asset Management LLC now owns 209,263 shares of the company’s stock valued at $4,750,000 after purchasing an additional 91,113 shares during the last quarter. Blackstone Inc. acquired a new stake in shares of Cabaletta Bio in the fourth quarter valued at about $7,888,000. Birchview Capital LP bought a new position in shares of Cabaletta Bio in the fourth quarter worth about $227,000. Finally, Perceptive Advisors LLC lifted 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 worth $45,469,000 after purchasing an additional 870,567 shares during the last quarter.

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.