HC Wainwright Reiterates “Buy” Rating for Cabaletta Bio (NASDAQ:CABA)

HC Wainwright restated their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a research report released on Friday,Benzinga reports. They currently have a $25.00 price objective on the stock.

Several other research firms have also recently weighed in on CABA. Evercore ISI reduced their price objective on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. UBS Group initiated coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Wells Fargo & Company dropped 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. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $27.30.

Cabaletta Bio Stock Down 10.9 %

Shares of NASDAQ:CABA opened at $2.70 on Friday. The company has a market cap of $131.89 million, a price-to-earnings ratio of -1.26 and a beta of 2.42. The business has a 50 day moving average price of $4.20 and a 200 day moving average price of $6.79. Cabaletta Bio has a twelve month low of $2.61 and a twelve month high of $26.35.

Hedge Funds Weigh In On Cabaletta Bio

A number of hedge funds have recently made changes to their positions in CABA. California State Teachers Retirement System raised its position in Cabaletta Bio by 6.0% in the first quarter. California State Teachers Retirement System now owns 30,428 shares of the company’s stock worth $519,000 after purchasing an additional 1,711 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of 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 worth $44,000 after buying an additional 3,724 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of 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. AlphaCentric Advisors LLC boosted its stake in Cabaletta Bio by 7.7% in the 2nd quarter. AlphaCentric Advisors LLC now owns 70,000 shares of the company’s stock valued at $524,000 after buying an additional 5,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Cabaletta Bio in the third quarter valued at $32,000.

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.