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

HC Wainwright restated their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $25.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group began coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They set a “buy” rating and a $10.00 target price for the company. 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 research report on Monday, August 12th. Finally, Evercore ISI reduced their price objective 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. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $27.30.

Cabaletta Bio Trading Down 19.8 %

Shares of CABA traded down $0.75 during mid-day trading on Friday, hitting $3.03. 3,853,207 shares of the company’s stock were exchanged, compared to its average volume of 1,089,786. Cabaletta Bio has a fifty-two week low of $2.96 and a fifty-two week high of $26.35. The firm has a market capitalization of $148.02 million, a P/E ratio of -1.59 and a beta of 2.42. The business’s 50 day moving average is $4.23 and its two-hundred day moving average is $6.92.

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Cabaletta Bio by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock valued at $5,168,000 after acquiring an additional 124,071 shares during the period. Barclays PLC increased its stake in shares of Cabaletta Bio by 48.2% during the 3rd quarter. Barclays PLC now owns 61,130 shares of the company’s stock worth $288,000 after purchasing an additional 19,891 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Cabaletta Bio by 490.2% during the 3rd quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock worth $413,000 after purchasing an additional 72,638 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Cabaletta Bio during the 3rd quarter worth approximately $33,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Cabaletta Bio during the 3rd quarter worth approximately $3,150,000.

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.