Cabaletta Bio (NASDAQ:CABA) Earns “Buy” Rating from HC Wainwright

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $25.00 price objective on the stock.

Other research analysts have also issued research reports about the company. TD Cowen raised Cabaletta Bio to a “strong-buy” rating in a report on Friday, November 29th. William Blair reiterated an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. Evercore ISI cut shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and reduced their price objective for the stock from $15.00 to $6.00 in a research note on Friday, December 20th. Finally, Wells Fargo & Company downgraded shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $12.00 to $6.00 in a report on Thursday, December 19th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cabaletta Bio has a consensus rating of “Buy” and an average target price of $22.71.

Cabaletta Bio Trading Down 7.7 %

Shares of NASDAQ:CABA opened at $2.15 on Tuesday. The stock has a market capitalization of $105.09 million, a PE ratio of -1.00 and a beta of 2.47. Cabaletta Bio has a 1 year low of $1.76 and a 1 year high of $24.85. The firm has a fifty day moving average price of $2.45 and a 200 day moving average price of $3.62.

Hedge Funds Weigh In On Cabaletta Bio

Large investors have recently bought and sold shares of the stock. Fred Alger Management LLC grew its position in Cabaletta Bio by 63.3% in the 3rd quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company’s stock worth $19,444,000 after purchasing an additional 1,596,512 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Cabaletta Bio in the third quarter valued at about $3,150,000. Adage Capital Partners GP L.L.C. grew its position in Cabaletta Bio by 19.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company’s stock worth $8,250,000 after buying an additional 597,828 shares in the last quarter. Two Sigma Advisers LP increased its stake in Cabaletta Bio by 195.8% during 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. Finally, T. Rowe Price Investment Management Inc. increased its stake in Cabaletta Bio by 10.9% during 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.

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.