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 report issued on Tuesday morning, Benzinga reports. HC Wainwright currently has a $25.00 price objective on the stock.

Several other brokerages also recently issued reports on CABA. Cantor Fitzgerald reissued an overweight rating and set a $50.00 price target on shares of Cabaletta Bio in a report on Friday, June 21st. Stifel Nicolaus reiterated a buy rating and issued a $32.00 price objective on shares of Cabaletta Bio in a research report on Monday, June 17th. Evercore ISI decreased their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an outperform rating for the company in a research report on Monday, August 12th. Finally, Wells Fargo & Company cut their price target on Cabaletta Bio from $35.00 to $20.00 and set an overweight rating on the stock in a report on Monday, August 12th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $30.11.

Cabaletta Bio Stock Performance

Shares of CABA opened at $4.70 on Tuesday. Cabaletta Bio has a 52 week low of $3.47 and a 52 week high of $26.35. The firm has a market cap of $226.90 million, a price-to-earnings ratio of -2.75 and a beta of 2.40. The stock has a 50 day moving average of $5.62 and a 200-day moving average of $10.50.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Thursday, August 8th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.01). On average, sell-side analysts predict that Cabaletta Bio will post -2.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in Cabaletta Bio by 8.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock worth $422,000 after buying an additional 4,191 shares during the period. Millennium Management LLC increased its position in shares of Cabaletta Bio by 24.8% in the second quarter. Millennium Management LLC now owns 698,317 shares of the company’s stock worth $5,223,000 after acquiring an additional 138,950 shares in the last quarter. AXA S.A. raised its holdings in shares of Cabaletta Bio by 52.0% during the second quarter. AXA S.A. now owns 270,778 shares of the company’s stock valued at $2,025,000 after acquiring an additional 92,616 shares during the period. Squarepoint Ops LLC lifted its position in shares of Cabaletta Bio by 643.3% in the 2nd quarter. Squarepoint Ops LLC now owns 315,379 shares of the company’s stock valued at $2,359,000 after acquiring an additional 272,948 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Cabaletta Bio by 92.9% in the 2nd quarter. Marshall Wace LLP now owns 330,187 shares of the company’s stock valued at $2,470,000 after acquiring an additional 159,000 shares in the last quarter.

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.