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

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

CABA has been the topic of a number of other research reports. UBS Group initiated coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They issued a “buy” rating and a $10.00 price target on the stock. Evercore ISI decreased their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Finally, Wells Fargo & Company dropped their price target on Cabaletta Bio from $35.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $28.10.

Cabaletta Bio Stock Performance

CABA opened at $3.78 on Friday. Cabaletta Bio has a fifty-two week low of $3.47 and a fifty-two week high of $26.35. The stock has a market capitalization of $184.65 million, a price-to-earnings ratio of -1.99 and a beta of 2.42. The company has a fifty day moving average of $4.27 and a two-hundred day moving average of $7.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cabaletta Bio in the 3rd quarter valued at approximately $32,000. China Universal Asset Management Co. Ltd. grew its position 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 acquiring an additional 3,724 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Cabaletta Bio during the third quarter worth about $67,000. GSA Capital Partners LLP acquired a new stake in shares of Cabaletta Bio during the third quarter worth about $127,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Cabaletta Bio in the first quarter valued at approximately $147,000.

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.