Cabaletta Bio's (CABA) "Buy" Rating Reiterated at HC Wainwright

Cabaletta Bio (NASDAQ:CABA - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research report issued on Wednesday,Benzinga reports. They presently have a $25.00 price objective on the stock.

CABA has been the subject of a number of other reports. UBS Group cut their price objective on Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Morgan Stanley lowered their price objective on Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday, April 1st. Wells Fargo & Company lowered their price objective on Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Citigroup lowered their price objective on Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, Guggenheim boosted their price objective on Cabaletta Bio from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Cabaletta Bio has a consensus rating of "Buy" and a consensus target price of $20.33.

Cabaletta Bio Stock Up 10.6%

CABA traded up $0.19 during trading on Wednesday, reaching $1.99. The company's stock had a trading volume of 4,559,781 shares, compared to its average volume of 1,641,605. The firm has a fifty day simple moving average of $1.55 and a two-hundred day simple moving average of $2.02. Cabaletta Bio has a 1 year low of $0.99 and a 1 year high of $10.54. The company 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 posted its quarterly earnings results on Wednesday, May 21st. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.04). As a group, equities analysts forecast that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Institutional Trading of Cabaletta Bio

Several hedge funds have recently made changes to their positions in the company. LPL Financial LLC lifted its stake in shares of 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 acquiring an additional 5,716 shares during the period. Intech Investment Management LLC grew its holdings in 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 grew its holdings in 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 grew its holdings in 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 grew its holdings in 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.

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.