Cabaletta Bio (NASDAQ:CABA) Raised to “Strong-Buy” at TD Cowen

TD Cowen upgraded shares of Cabaletta Bio (NASDAQ:CABA) to a strong-buy rating in a research report sent to investors on Friday,Zacks.com reports.

A number of other research firms also recently commented on CABA. Wells Fargo & Company cut their target price on shares of Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. UBS Group started coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They issued a “buy” rating and a $10.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Cabaletta Bio in a research report on Friday, November 15th. Finally, Evercore ISI dropped their price objective on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $26.25.

Cabaletta Bio Trading Up 26.9 %

Shares of Cabaletta Bio stock opened at $3.82 on Friday. The stock’s fifty day moving average price is $3.88 and its 200-day moving average price is $6.27. The firm has a market cap of $186.72 million, a P/E ratio of -1.78 and a beta of 2.42. Cabaletta Bio has a 12 month low of $1.76 and a 12 month high of $26.35.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in Cabaletta Bio by 48.2% in the third quarter. Barclays PLC now owns 61,130 shares of the company’s stock worth $288,000 after acquiring an additional 19,891 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cabaletta Bio by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock valued at $5,168,000 after purchasing an additional 124,071 shares during the last quarter. XTX Topco Ltd boosted its stake in Cabaletta Bio by 490.2% in the 3rd quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock worth $413,000 after purchasing an additional 72,638 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Cabaletta Bio during the 3rd quarter worth approximately $33,000. Finally, Point72 Asset Management L.P. acquired a new position in Cabaletta Bio during the 3rd quarter valued at approximately $3,150,000.

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.