Cabaletta Bio’s (CABA) “Buy” Rating Reiterated at HC Wainwright

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They presently have a $30.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 167.62% from the stock’s previous close.

CABA has been the subject of several other reports. Jefferies Financial Group began coverage on Cabaletta Bio in a research report on Monday, February 5th. They set a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 price target on shares of Cabaletta Bio in a research report on Friday, April 5th. Wells Fargo & Company lifted their price target on Cabaletta Bio from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, Citigroup raised their price objective on Cabaletta Bio from $26.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $34.33.

Cabaletta Bio Stock Down 5.1 %

Shares of NASDAQ:CABA opened at $11.21 on Friday. Cabaletta Bio has a 52-week low of $9.02 and a 52-week high of $26.35. The stock has a market cap of $541.22 million, a price-to-earnings ratio of -6.56 and a beta of 2.52. The business has a 50-day moving average price of $14.62 and a 200-day moving average price of $18.54.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.07). As a group, equities analysts anticipate that Cabaletta Bio will post -2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in Cabaletta Bio by 16.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 145,467 shares of the company’s stock worth $2,214,000 after acquiring an additional 20,171 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Cabaletta Bio in the 3rd quarter valued at about $115,000. Mirae Asset Global Investments Co. Ltd. raised its position in Cabaletta Bio by 29.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,798 shares of the company’s stock valued at $256,000 after purchasing an additional 3,798 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Cabaletta Bio in the 3rd quarter valued at about $63,000. Finally, Victory Capital Management Inc. boosted its holdings in Cabaletta Bio by 11.7% in the third quarter. Victory Capital Management Inc. now owns 66,650 shares of the company’s stock valued at $1,014,000 after purchasing an additional 6,980 shares in the last quarter.

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.