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

HC Wainwright restated their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a research report sent to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $25.00 price objective on the stock.

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

Cabaletta Bio Stock Down 19.8 %

Shares of CABA traded down $0.75 during midday trading on Friday, reaching $3.03. The company had a trading volume of 3,853,207 shares, compared to its average volume of 1,089,786. Cabaletta Bio has a 1-year low of $2.96 and a 1-year high of $26.35. The stock has a market cap of $148.02 million, a PE ratio of -1.59 and a beta of 2.42. The firm has a 50 day simple moving average of $4.23 and a 200-day simple moving average of $6.92.

Hedge Funds Weigh In On Cabaletta Bio

Hedge funds have recently made changes to their positions in the company. E Fund Management Co. Ltd. grew its holdings in shares of Cabaletta Bio by 1,610.1% during the second quarter. E Fund Management Co. Ltd. now owns 286,424 shares of the company’s stock worth $2,142,000 after purchasing an additional 269,675 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Cabaletta Bio by 16.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 612,398 shares of the company’s stock worth $10,448,000 after purchasing an additional 84,633 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Cabaletta Bio by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock worth $38,832,000 after purchasing an additional 144,291 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Cabaletta Bio during the first quarter worth about $305,000. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Cabaletta Bio during the first quarter worth about $1,403,000.

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.