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

A number of other equities analysts also recently commented on CABA. Citigroup decreased their target price on Cabaletta Bio from $17.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, May 16th. UBS Group decreased their target price on Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Wells Fargo & Company decreased their target price on Cabaletta Bio from $6.00 to $3.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Morgan Stanley decreased their target price on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. Finally, Guggenheim lifted their target price on Cabaletta Bio from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $20.33.

Cabaletta Bio Stock Performance

NASDAQ:CABA opened at $1.99 on Wednesday. The company has a market capitalization of $100.98 million, a price-to-earnings ratio of -0.93 and a beta of 2.81. Cabaletta Bio has a one year low of $0.99 and a one year high of $13.50. The stock has a 50-day simple moving average of $1.55 and a 200 day simple moving average of $2.02.

Cabaletta Bio (NASDAQ:CABA) last posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.04). On average, equities research analysts forecast that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CABA. Miller Financial Services LLC bought a new stake in Cabaletta Bio during the fourth quarter worth approximately $33,000. Intech Investment Management LLC raised 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 purchasing an additional 5,999 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Cabaletta Bio during the fourth quarter worth approximately $47,000. Callan Family Office LLC bought a new stake in Cabaletta Bio during the first quarter worth approximately $58,000. Finally, Comerica Bank increased its holdings in shares of Cabaletta Bio by 2,292.1% in the first quarter. Comerica Bank now owns 41,599 shares of the company’s stock valued at $58,000 after buying an additional 39,860 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.