Cabaletta Bio’s (CABA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $25.00 target price on the stock. HC Wainwright also issued estimates for Cabaletta Bio’s FY2029 earnings at ($2.00) EPS.

Several other brokerages also recently issued reports on CABA. Wells Fargo & Company downgraded Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $12.00 to $6.00 in a report on Thursday, December 19th. Evercore ISI cut shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $22.00.

Cabaletta Bio Trading Down 4.0 %

NASDAQ CABA opened at $1.19 on Tuesday. The company has a market cap of $60.38 million, a P/E ratio of -0.55 and a beta of 2.44. The company has a fifty day simple moving average of $2.00 and a 200 day simple moving average of $2.91. Cabaletta Bio has a 12-month low of $1.14 and a 12-month high of $19.04.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new position in shares of Cabaletta Bio in the third quarter valued at $3,150,000. Adage Capital Partners GP L.L.C. grew its holdings in Cabaletta Bio by 19.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company’s stock valued at $8,250,000 after buying an additional 597,828 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Cabaletta Bio by 195.8% in the fourth quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock valued at $1,888,000 after acquiring an additional 550,700 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Cabaletta Bio by 10.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,074,006 shares of the company’s stock valued at $9,248,000 after acquiring an additional 400,282 shares during the period. Finally, Two Sigma Investments LP grew its stake in Cabaletta Bio by 78.8% during the fourth quarter. Two Sigma Investments LP now owns 751,894 shares of the company’s stock valued at $1,707,000 after acquiring an additional 331,417 shares in the last quarter.

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.