Cabaletta Bio (NASDAQ:CABA) Earns Buy Rating from Guggenheim

Guggenheim reissued their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a research note released on Tuesday morning,Benzinga reports. Guggenheim currently has a $23.00 price target on the stock.

CABA has been the topic of a number of other reports. Wells Fargo & Company downgraded shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $12.00 to $6.00 in a research note on Thursday, December 19th. Evercore ISI downgraded shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their price objective for the company from $15.00 to $6.00 in a research note on Friday, December 20th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research note on Tuesday. Finally, Morgan Stanley lowered their price target on shares of 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 given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $22.00.

Cabaletta Bio Stock Down 15.5 %

NASDAQ:CABA opened at $1.17 on Tuesday. Cabaletta Bio has a twelve month low of $1.16 and a twelve month high of $19.04. The stock’s 50-day simple moving average is $2.06 and its 200 day simple moving average is $2.93. The firm has a market capitalization of $57.19 million, a PE ratio of -0.54 and a beta of 2.58.

Institutional Trading of Cabaletta Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Cabaletta Bio during the 3rd quarter worth about $32,000. Point72 DIFC Ltd bought a new position in shares of Cabaletta Bio during the third quarter worth about $33,000. Intech Investment Management LLC bought a new position in shares of Cabaletta Bio during the third quarter worth about $67,000. Miller Financial Services LLC acquired a new position in shares of Cabaletta Bio in the fourth quarter worth approximately $33,000. Finally, Avanza Fonder AB bought a new stake in Cabaletta Bio in the fourth quarter valued at approximately $40,000.

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.