Cabaletta Bio (NASDAQ:CABA) Earns Buy Rating from HC Wainwright

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

Other equities analysts have also issued reports about the stock. Wells Fargo & Company cut their price objective on shares of Cabaletta Bio from $35.00 to $20.00 and set an overweight rating on the stock in a report on Monday, August 12th. Cantor Fitzgerald reaffirmed an overweight rating and set a $50.00 price target on shares of Cabaletta Bio in a research report on Friday, June 21st. Stifel Nicolaus reiterated a buy rating and set a $32.00 price objective on shares of Cabaletta Bio in a report on Monday, June 17th. Finally, Evercore ISI dropped their target price 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. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $30.11.

Cabaletta Bio Trading Up 4.9 %

Shares of Cabaletta Bio stock opened at $4.70 on Tuesday. The stock’s fifty day moving average price is $5.69 and its 200-day moving average price is $10.62. The firm has a market cap of $226.90 million, a P/E ratio of -2.75 and a beta of 2.40. Cabaletta Bio has a 12 month low of $3.47 and a 12 month high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, August 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). Analysts forecast that Cabaletta Bio will post -2.21 earnings per share for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jennison Associates LLC lifted its stake in Cabaletta Bio by 110.4% during the 1st quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock valued at $58,396,000 after acquiring an additional 1,796,356 shares during the period. Vanguard Group Inc. lifted its position in Cabaletta Bio by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock valued at $38,832,000 after purchasing an additional 144,291 shares during the period. Perceptive Advisors LLC boosted its holdings in Cabaletta Bio by 76.9% in the fourth quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company’s stock valued at $45,469,000 after purchasing an additional 870,567 shares during the last quarter. Sofinnova Investments Inc. grew its position in Cabaletta Bio by 184.0% during the 2nd quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock worth $9,129,000 after purchasing an additional 790,654 shares during the period. Finally, Millennium Management LLC grew its position in Cabaletta Bio by 24.8% during the 2nd quarter. Millennium Management LLC now owns 698,317 shares of the company’s stock worth $5,223,000 after purchasing an additional 138,950 shares during the period.

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.