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

HC Wainwright reaffirmed their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a report released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $25.00 price target on the stock.

A number of other equities analysts also recently commented on CABA. Wells Fargo & Company downgraded shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $12.00 to $6.00 in a research note on Thursday, December 19th. Evercore ISI lowered Cabaletta Bio from an “outperform” rating to an “inline” rating and cut their price objective for the company from $15.00 to $6.00 in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $22.00.

Cabaletta Bio Stock Performance

CABA opened at $1.17 on Tuesday. Cabaletta Bio has a 1 year low of $1.16 and a 1 year high of $19.04. The firm has a 50 day moving average price of $2.06 and a 200 day moving average price of $2.93. The company has a market cap of $57.19 million, a PE ratio of -0.54 and a beta of 2.58.

Institutional Trading of Cabaletta Bio

Several large investors have recently modified their holdings of the business. LPL Financial LLC boosted its holdings in Cabaletta Bio by 15.6% in the fourth quarter. LPL Financial LLC now owns 42,386 shares of the company’s stock valued at $96,000 after purchasing an additional 5,716 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Cabaletta Bio by 42.2% during the 4th quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock valued at $46,000 after buying an additional 5,999 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cabaletta Bio during the third quarter worth approximately $32,000. Point72 DIFC Ltd bought a new stake in shares of Cabaletta Bio in the third quarter worth $33,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Cabaletta Bio by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 125,845 shares of the company’s stock valued at $594,000 after acquiring an additional 7,518 shares in 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.