Cabaletta Bio (NASDAQ:CABA) Receives Buy Rating from HC Wainwright

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

Several other research analysts have also recently commented on CABA. UBS Group initiated 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 for the company. Wells Fargo & Company decreased their price objective on Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Finally, 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 research report on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $27.30.

Cabaletta Bio Stock Performance

CABA stock opened at $3.03 on Friday. The stock’s fifty day moving average is $4.23 and its two-hundred day moving average is $6.86. The stock has a market capitalization of $148.02 million, a price-to-earnings ratio of -1.41 and a beta of 2.42. Cabaletta Bio has a 1 year low of $2.96 and a 1 year high of $26.35.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Swiss National Bank boosted its position in shares of Cabaletta Bio by 16.1% during the 1st quarter. Swiss National Bank now owns 59,200 shares of the company’s stock valued at $1,010,000 after purchasing an additional 8,200 shares in the last quarter. Blair William & Co. IL grew its position in Cabaletta Bio by 47.3% in the first quarter. Blair William & Co. IL now owns 27,300 shares of the company’s stock worth $466,000 after buying an additional 8,762 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Cabaletta Bio by 6.8% in 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 in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Cabaletta Bio during the 1st quarter valued at $147,000. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Cabaletta Bio during the 1st quarter worth $1,403,000.

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.