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

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

Several other analysts have also issued reports on CABA. Wells Fargo & Company lowered their price target on shares of Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Guggenheim upped their target price on shares of Cabaletta Bio from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. UBS Group decreased their target price on shares of Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Morgan Stanley decreased their target price on shares of Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, April 1st. Finally, Citigroup decreased their target price on shares of Cabaletta Bio from $17.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, May 16th. One analyst has rated the stock with a hold rating, eight have assigned 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 $20.33.

Cabaletta Bio Stock Down 25.5%

CABA opened at $1.75 on Wednesday. The stock has a market cap of $88.80 million, a price-to-earnings ratio of -0.81 and a beta of 2.81. Cabaletta Bio has a twelve month low of $0.99 and a twelve month high of $13.50. The company’s 50-day moving average price is $1.52 and its two-hundred day moving average price is $2.03.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.04). As a group, sell-side analysts anticipate that Cabaletta Bio will post -2.34 earnings per share for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Several institutional investors and hedge funds have recently made changes to their positions in CABA. Point72 Asset Management L.P. grew its holdings in shares of Cabaletta Bio by 89.7% during the 4th quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company’s stock valued at $2,874,000 after purchasing an additional 598,607 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Cabaletta Bio by 19.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company’s stock valued at $8,250,000 after purchasing an additional 597,828 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Cabaletta Bio by 195.8% in the 4th quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock worth $1,888,000 after acquiring an additional 550,700 shares during the last quarter. Nuveen LLC bought a new stake in Cabaletta Bio in the 1st quarter worth $602,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in Cabaletta Bio by 10.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,074,006 shares of the company’s stock worth $9,248,000 after acquiring an additional 400,282 shares during 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.