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

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

Several other equities research analysts also recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. Wells Fargo & Company cut shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $12.00 to $6.00 in a report on Thursday, December 19th. Finally, Evercore ISI cut shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and reduced their target price for the stock from $15.00 to $6.00 in a report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $22.71.

Cabaletta Bio Stock Performance

Shares of NASDAQ:CABA opened at $2.09 on Tuesday. Cabaletta Bio has a 52 week low of $1.76 and a 52 week high of $24.85. The company has a market capitalization of $102.15 million, a PE ratio of -0.97 and a beta of 2.47. The company has a 50 day moving average price of $2.43 and a two-hundred day moving average price of $3.61.

Institutional Trading of Cabaletta Bio

A number of large investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP lifted its stake in shares of Cabaletta Bio by 195.8% during the 4th quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock worth $1,888,000 after buying an additional 550,700 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Cabaletta Bio by 78.8% during the 4th quarter. Two Sigma Investments LP now owns 751,894 shares of the company’s stock worth $1,707,000 after buying an additional 331,417 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Cabaletta Bio during the 4th quarter worth about $493,000. Point72 Asset Management L.P. lifted its stake 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 worth $2,874,000 after buying an additional 598,607 shares during the last quarter. Finally, Integral Health Asset Management LLC lifted its stake in shares of Cabaletta Bio by 11.1% during the 4th quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock worth $1,135,000 after buying an additional 50,000 shares during the last quarter.

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.