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

Cabaletta Bio (NASDAQ:CABA - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $25.00 target price on the stock.

Several other analysts have also recently issued reports on the stock. UBS Group decreased their target price on shares of Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Guggenheim upped their target price 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. Citigroup decreased their target price on shares of Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Morgan Stanley decreased their target price on shares of Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company decreased their target price on shares of Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $20.33.

Cabaletta Bio Stock Performance

Shares of CABA traded up $0.19 during midday trading on Wednesday, hitting $1.99. 4,559,781 shares of the company traded hands, compared to its average volume of 1,653,957. The firm has a 50 day moving average of $1.55 and a 200-day moving average of $2.02. Cabaletta Bio has a 52 week low of $0.99 and a 52 week high of $13.50. The stock has a market cap of $100.98 million, a price-to-earnings ratio of -0.93 and a beta of 2.81.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.04). Sell-side analysts predict that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

Institutional Trading of Cabaletta Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in Cabaletta Bio by 15.6% in the 4th quarter. LPL Financial LLC now owns 42,386 shares of the company's stock worth $96,000 after purchasing an additional 5,716 shares during the period. Intech Investment Management LLC increased its position in shares of Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company's stock worth $46,000 after acquiring an additional 5,999 shares during the period. SG Americas Securities LLC increased its position in shares of Cabaletta Bio by 23.3% during the fourth quarter. SG Americas Securities LLC now owns 43,259 shares of the company's stock worth $98,000 after acquiring an additional 8,161 shares during the period. Barclays PLC increased its position in shares of Cabaletta Bio by 17.2% during the fourth quarter. Barclays PLC now owns 71,617 shares of the company's stock worth $163,000 after acquiring an additional 10,487 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Cabaletta Bio by 9.9% during the first quarter. Bank of New York Mellon Corp now owns 155,174 shares of the company's stock worth $215,000 after acquiring an additional 14,026 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.