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

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $25.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. Evercore ISI reduced their price objective on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Wells Fargo & Company cut their price target on Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Finally, UBS Group assumed coverage on Cabaletta Bio in a report on Thursday, October 10th. They set a “buy” rating and a $10.00 price objective for the company. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $27.30.

Cabaletta Bio Trading Down 19.8 %

NASDAQ CABA opened at $3.03 on Friday. The company has a market cap of $148.02 million, a P/E ratio of -1.59 and a beta of 2.42. The company has a fifty day simple moving average of $4.23 and a 200 day simple moving average of $6.92. Cabaletta Bio has a 12-month low of $2.96 and a 12-month high of $26.35.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds have recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of Cabaletta Bio by 6.0% in the first quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock valued at $519,000 after acquiring an additional 1,711 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Cabaletta Bio by 65.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after purchasing an additional 3,724 shares during the period. The Manufacturers Life Insurance Company grew its stake in Cabaletta Bio by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock valued at $422,000 after purchasing an additional 4,191 shares during the period. AlphaCentric Advisors LLC increased its position in shares of Cabaletta Bio by 7.7% during the 2nd quarter. AlphaCentric Advisors LLC now owns 70,000 shares of the company’s stock valued at $524,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cabaletta Bio during the 3rd quarter worth $32,000.

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.