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

Key Points

• HC Wainwright reaffirmed its Buy rating on Cabaletta Bio and maintained a $16 price target, implying approximately 401% upside from the stock’s prior close.
• Analyst sentiment is broadly positive, with Cabaletta holding a “Moderate Buy” consensus rating and an average price target of $15.33, though some firms maintain Sell or Hold views.
• Cabaletta shares recently traded at $3.19, while the company reported a quarterly loss of $0.34 per share—better than the $0.37 consensus estimate—and institutional investors have recently increased or initiated positions.

Cabaletta Bio (NASDAQ:CABA - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They currently have a $16.00 price target on the stock. HC Wainwright's target price would suggest a potential upside of 400.78% from the stock's previous close.

A number of other analysts have also issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of Cabaletta Bio in a research note on Monday, May 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Cabaletta Bio in a report on Friday, July 17th. Wall Street Zen downgraded shares of Cabaletta Bio from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Finally, TD Cowen upgraded shares of Cabaletta Bio to a "strong-buy" rating in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cabaletta Bio presently has an average rating of "Moderate Buy" and an average target price of $15.33.

Cabaletta Bio Stock Performance

Shares of NASDAQ CABA traded up $0.09 during trading on Tuesday, reaching $3.19. The stock had a trading volume of 3,757,867 shares, compared to its average volume of 3,792,240. Cabaletta Bio has a fifty-two week low of $1.42 and a fifty-two week high of $4.23. The business's 50-day moving average price is $2.92 and its 200-day moving average price is $3.10. The company has a market cap of $541.68 million, a P/E ratio of -2.03 and a beta of 3.30.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.03. Analysts forecast that Cabaletta Bio will post -1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Cabaletta Bio

Several large investors have recently bought and sold shares of CABA. GSA Capital Partners LLP purchased a new stake in shares of Cabaletta Bio during the second quarter worth approximately $2,079,000. Blue Owl Capital Holdings LP purchased a new position in Cabaletta Bio in the second quarter worth approximately $2,223,000. Renaissance Technologies LLC lifted its stake in Cabaletta Bio by 33.8% in the first quarter. Renaissance Technologies LLC now owns 2,036,663 shares of the company's stock worth $5,479,000 after acquiring an additional 514,080 shares during the last quarter. Stonepine Capital Management LLC acquired a new position in Cabaletta Bio during the 2nd quarter worth approximately $2,852,181. Finally, Dimensional Fund Advisors LP grew its holdings in Cabaletta Bio by 63.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 740,648 shares of the company's stock worth $1,990,000 after acquiring an additional 288,609 shares in the last quarter.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company's lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.

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