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

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $25.00 target price on the stock.

A number of other research firms have also recently commented on CABA. Wells Fargo & Company lowered 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. UBS Group dropped their price target on Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Citigroup cut their target price on Cabaletta Bio from $17.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Morgan Stanley reduced their price objective on shares of 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 raised their price target on shares of Cabaletta Bio from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Cabaletta Bio currently has a consensus rating of “Buy” and an average target price of $20.33.

Cabaletta Bio Stock Up 2.9%

NASDAQ:CABA opened at $1.80 on Wednesday. The firm has a market capitalization of $91.34 million, a P/E ratio of -0.84 and a beta of 2.81. Cabaletta Bio has a 52 week low of $0.99 and a 52 week high of $13.50. The company has a fifty day moving average of $1.53 and a 200 day moving average of $2.03.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings data on Wednesday, May 21st. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.04). As a group, analysts anticipate that Cabaletta Bio will post -2.34 EPS for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Hedge funds have recently bought and sold shares of the business. Miller Financial Services LLC bought a new position in shares of Cabaletta Bio in the 4th quarter worth $33,000. Intech Investment Management LLC grew its position in Cabaletta Bio by 42.2% during the 4th 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 during the period. Tudor Investment Corp ET AL purchased a new stake in Cabaletta Bio in the 4th quarter worth approximately $47,000. Callan Family Office LLC acquired a new stake in Cabaletta Bio during the first quarter valued at $58,000. Finally, Comerica Bank raised its holdings in Cabaletta Bio by 2,292.1% in the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock worth $58,000 after purchasing an additional 39,860 shares during the period.

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.