Cabaletta Bio (NASDAQ:CABA) Rating Reiterated by HC Wainwright

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

Several other research analysts also recently weighed in on CABA. Stifel Nicolaus reiterated a buy rating and set a $32.00 price target on shares of Cabaletta Bio in a research note on Monday, June 17th. Evercore ISI cut 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 report on Monday, August 12th. Wells Fargo & Company lowered their price target on shares of Cabaletta Bio from $35.00 to $20.00 and set an overweight rating on the stock in a research report on Monday, August 12th. Finally, Cantor Fitzgerald reaffirmed an overweight rating and issued a $50.00 price objective on shares of Cabaletta Bio in a report on Friday, June 21st. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of Buy and an average target price of $30.11.

Cabaletta Bio Stock Performance

NASDAQ CABA opened at $4.19 on Tuesday. The company has a market capitalization of $202.28 million, a PE ratio of -2.45 and a beta of 2.40. Cabaletta Bio has a 52-week low of $3.47 and a 52-week high of $26.35. The company has a 50-day simple moving average of $5.83 and a 200 day simple moving average of $10.70.

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

Institutional Trading of Cabaletta Bio

Several institutional investors and hedge funds have recently modified their holdings of CABA. Jennison Associates LLC increased its position in shares of Cabaletta Bio by 110.4% in the first quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock worth $58,396,000 after purchasing an additional 1,796,356 shares during the last quarter. Perceptive Advisors LLC increased its holdings in shares of Cabaletta Bio by 76.9% in the 4th quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company’s stock worth $45,469,000 after buying an additional 870,567 shares during the last quarter. Sofinnova Investments Inc. raised its position in shares of Cabaletta Bio by 184.0% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock valued at $9,129,000 after buying an additional 790,654 shares in the last quarter. Blackstone Inc. bought a new stake in shares of Cabaletta Bio during the 4th quarter worth $7,888,000. Finally, Panagora Asset Management Inc. purchased a new position in Cabaletta Bio in the second quarter worth $2,243,000.

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.