Cabaletta Bio (NASDAQ:CABA) Given “Buy” Rating at HC Wainwright

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

A number of other equities research analysts have also recently issued reports on the company. Evercore ISI cut Cabaletta Bio from an “outperform” rating to an “inline” rating and cut their target price for the company from $15.00 to $6.00 in a research note on Friday, December 20th. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. Finally, Wells Fargo & Company cut Cabaletta Bio from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $22.71.

Cabaletta Bio Trading Down 13.8 %

NASDAQ CABA traded down $0.38 during trading hours on Tuesday, reaching $2.34. The company’s stock had a trading volume of 2,226,465 shares, compared to its average volume of 1,326,663. The stock has a market cap of $114.13 million, a PE ratio of -1.09 and a beta of 2.47. The business has a 50-day simple moving average of $2.48 and a 200 day simple moving average of $3.66. Cabaletta Bio has a 52 week low of $1.76 and a 52 week high of $24.85.

Hedge Funds Weigh In On Cabaletta Bio

Hedge funds have recently modified their holdings of the company. Two Sigma Advisers LP lifted its holdings in shares of Cabaletta Bio by 195.8% in the fourth quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock valued at $1,888,000 after buying an additional 550,700 shares during the period. Two Sigma Investments LP lifted its holdings in Cabaletta Bio by 78.8% in the 4th quarter. Two Sigma Investments LP now owns 751,894 shares of the company’s stock valued at $1,707,000 after acquiring an additional 331,417 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in Cabaletta Bio in the 4th quarter valued at about $493,000. Point72 Asset Management L.P. boosted its position in shares of Cabaletta Bio by 89.7% during the 4th quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company’s stock valued at $2,874,000 after purchasing an additional 598,607 shares in the last quarter. Finally, Integral Health Asset Management LLC grew its stake in shares of Cabaletta Bio by 11.1% in the 4th quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company’s stock worth $1,135,000 after purchasing an additional 50,000 shares during 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.