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

Key Points

• HC Wainwright has reiterated a "buy" rating for Cabaletta Bio (NASDAQ:CABA) with a price target of $16.00, suggesting a potential upside of 461.40% from its previous close.
• Cabaletta Bio reported a quarterly loss of ($0.73) EPS, which missed analysts' consensus estimates, indicating challenges in meeting financial expectations.
• Major institutional investors have significantly increased their stakes in the company, including Bain Capital Life Sciences, which boosted its position by 250.5%.

Cabaletta Bio (NASDAQ:CABA - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $16.00 price target on the stock. HC Wainwright's target price points to a potential upside of 461.40% from the company's previous close.

Several other equities analysts also recently weighed in on CABA. Cantor Fitzgerald reiterated an "overweight" rating and set a $15.00 target price on shares of Cabaletta Bio in a research report on Friday, September 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cabaletta Bio in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cabaletta Bio presently has an average rating of "Moderate Buy" and an average price target of $13.38.

Cabaletta Bio Price Performance

CABA stock opened at $2.85 on Friday. The company has a market cap of $260.68 million, a P/E ratio of -1.05 and a beta of 3.01. Cabaletta Bio has a 1 year low of $0.99 and a 1 year high of $5.46. The stock's fifty day moving average price is $1.85 and its 200-day moving average price is $1.66.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.02). As a group, analysts expect that Cabaletta Bio will post -2.34 earnings per share for the current year.

Institutional Investors Weigh In On Cabaletta Bio

Several large investors have recently added to or reduced their stakes in the stock. Bain Capital Life Sciences Investors LLC boosted its position in shares of Cabaletta Bio by 250.5% during the second quarter. Bain Capital Life Sciences Investors LLC now owns 9,677,125 shares of the company's stock valued at $14,709,000 after buying an additional 6,916,237 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in Cabaletta Bio by 142.9% during the second quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company's stock worth $13,421,000 after buying an additional 5,195,285 shares during the period. Jennison Associates LLC lifted its holdings in Cabaletta Bio by 147.4% during the second quarter. Jennison Associates LLC now owns 6,020,167 shares of the company's stock worth $9,151,000 after buying an additional 3,586,439 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Cabaletta Bio during the second quarter worth $3,036,000. Finally, Acadian Asset Management LLC lifted its holdings in Cabaletta Bio by 36.5% during the first quarter. Acadian Asset Management LLC now owns 682,670 shares of the company's stock worth $942,000 after buying an additional 182,406 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.

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