Cabaletta Bio (NASDAQ:CABA) Raised to “Strong-Buy” at TD Cowen

Cabaletta Bio (NASDAQ:CABA) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

A number of other research firms also recently weighed in on CABA. William Blair restated an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Wells Fargo & Company reduced their price target on shares of Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Evercore ISI reduced their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. UBS Group started coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Friday, November 15th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $26.25.

Cabaletta Bio Price Performance

CABA stock opened at $3.82 on Friday. Cabaletta Bio has a one year low of $1.76 and a one year high of $26.35. The stock has a market cap of $186.72 million, a PE ratio of -1.78 and a beta of 2.42. The firm has a 50 day simple moving average of $3.88 and a two-hundred day simple moving average of $6.23.

Institutional Trading of Cabaletta Bio

Several large investors have recently modified their holdings of CABA. Jennison Associates LLC raised its position in Cabaletta Bio by 1.6% during the 3rd quarter. Jennison Associates LLC now owns 5,632,681 shares of the company’s stock valued at $26,586,000 after purchasing an additional 86,214 shares during the last quarter. Fred Alger Management LLC increased its stake in shares of Cabaletta Bio by 63.3% during the third quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company’s stock valued at $19,444,000 after buying an additional 1,596,512 shares during the period. Vanguard Group Inc. increased its stake in shares of Cabaletta Bio by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock valued at $38,832,000 after buying an additional 144,291 shares during the period. Sofinnova Investments Inc. raised its holdings in shares of Cabaletta Bio by 184.0% during the second quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock valued at $9,129,000 after acquiring an additional 790,654 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Cabaletta Bio by 12.8% in the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after acquiring an additional 124,071 shares during the period.

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.