Guggenheim Reaffirms “Buy” Rating for Cabaletta Bio (NASDAQ:CABA)

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating restated by Guggenheim in a research note issued on Tuesday,Benzinga reports. They currently have a $23.00 target price on the stock.

Several other equities analysts have also commented on CABA. Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and lowered their price target for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. Wells Fargo & Company cut shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $12.00 to $6.00 in a research report on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a report on Tuesday. Finally, Morgan Stanley decreased their price objective on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.33.

Cabaletta Bio Stock Down 5.1 %

CABA stock traded down $0.07 during midday trading on Tuesday, reaching $1.32. The company had a trading volume of 414,271 shares, compared to its average volume of 1,484,584. The firm has a market capitalization of $64.27 million, a PE ratio of -0.61 and a beta of 2.58. The stock has a 50 day moving average price of $2.09 and a 200 day moving average price of $2.95. Cabaletta Bio has a fifty-two week low of $1.29 and a fifty-two week high of $19.04.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.65) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.65). Research analysts predict that Cabaletta Bio will post -2.34 EPS for the current year.

Institutional Trading of Cabaletta Bio

Several institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cabaletta Bio during the third quarter worth about $32,000. Point72 DIFC Ltd acquired a new position in shares of Cabaletta Bio in the 3rd quarter worth approximately $33,000. Miller Financial Services LLC bought a new stake in shares of Cabaletta Bio in the 4th quarter worth approximately $33,000. Avanza Fonder AB acquired a new stake in Cabaletta Bio during the fourth quarter valued at approximately $40,000. Finally, Intech Investment Management LLC boosted its holdings in Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock worth $46,000 after buying an additional 5,999 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.