Cantor Fitzgerald Reaffirms "Overweight" Rating for Cabaletta Bio (NASDAQ:CABA)

Cantor Fitzgerald reissued their overweight rating on shares of Cabaletta Bio (NASDAQ:CABA - Free Report) in a report issued on Friday morning, Benzinga reports. Cantor Fitzgerald currently has a $50.00 price objective on the stock.

A number of other analysts have also recently commented on CABA. Jefferies Financial Group started coverage on shares of Cabaletta Bio in a research note on Monday, February 5th. They issued a buy rating and a $36.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Cabaletta Bio from $34.00 to $35.00 and gave the stock an overweight rating in a research note on Friday, March 22nd. HC Wainwright lifted their target price on shares of Cabaletta Bio from $25.00 to $30.00 and gave the stock a buy rating in a research note on Friday, March 22nd. Finally, Citigroup lifted their target price on shares of Cabaletta Bio from $26.00 to $30.00 and gave the stock a buy rating in a research note on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of Buy and a consensus price target of $34.33.

Cabaletta Bio Trading Up 5.4 %

Shares of NASDAQ:CABA traded up $0.87 during trading on Friday, reaching $16.98. The stock had a trading volume of 980,392 shares, compared to its average volume of 932,402. The firm's 50-day simple moving average is $20.85 and its 200 day simple moving average is $18.86. The company has a market capitalization of $819.12 million, a P/E ratio of -10.29 and a beta of 2.41. Cabaletta Bio has a one year low of $7.48 and a one year high of $26.35.

Insiders Place Their Bets

In other Cabaletta Bio news, insider Gwendolyn Binder sold 11,000 shares of the firm's stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $19.59, for a total transaction of $215,490.00. Following the completion of the transaction, the insider now directly owns 20,000 shares of the company's stock, valued at approximately $391,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 12.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cabaletta Bio

Large investors have recently made changes to their positions in the company. Citigroup Inc. lifted its stake in shares of Cabaletta Bio by 552.4% in the 3rd quarter. Citigroup Inc. now owns 49,695 shares of the company's stock valued at $756,000 after purchasing an additional 42,078 shares during the period. Swiss National Bank acquired a new position in shares of Cabaletta Bio in the 3rd quarter valued at $930,000. Jennison Associates LLC lifted its stake in shares of Cabaletta Bio by 20.5% in the 3rd quarter. Jennison Associates LLC now owns 1,422,367 shares of the company's stock valued at $21,648,000 after purchasing an additional 241,803 shares during the period. Wellington Management Group LLP acquired a new position in shares of Cabaletta Bio in the 3rd quarter valued at $3,753,000. Finally, Rafferty Asset Management LLC acquired a new position in shares of Cabaletta Bio in the 3rd quarter valued at $1,798,000.

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.