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

HC Wainwright reissued their buy rating on shares of Cabaletta Bio (NASDAQ:CABA) in a report issued on Tuesday,Benzinga reports. HC Wainwright currently has a $16.00 price target on the stock.

A number of other research analysts have also recently commented on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Cabaletta Bio in a research note on Wednesday, June 3rd. Wells Fargo & Company lowered their target price on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 14th. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Friday, July 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of Cabaletta Bio in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cabaletta Bio has a consensus rating of “Moderate Buy” and a consensus price target of $15.33.

Cabaletta Bio Price Performance

CABA stock opened at $3.48 on Tuesday. The company has a 50 day simple moving average of $2.94 and a 200 day simple moving average of $3.12. The stock has a market cap of $590.00 million, a price-to-earnings ratio of -2.22 and a beta of 3.27. Cabaletta Bio has a 1 year low of $1.44 and a 1 year high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last issued its earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.03. On average, equities research analysts anticipate that Cabaletta Bio will post -1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Cabaletta Bio during the second quarter valued at $33,447,000. T. Rowe Price Investment Management Inc. raised its position in shares of Cabaletta Bio by 17.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock worth $21,590,000 after acquiring an additional 1,495,768 shares in the last quarter. Jennison Associates LLC raised its position in shares of Cabaletta Bio by 0.7% in the 1st quarter. Jennison Associates LLC now owns 8,970,578 shares of the company’s stock worth $24,131,000 after acquiring an additional 64,879 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Cabaletta Bio by 142.9% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock valued at $13,421,000 after purchasing an additional 5,195,285 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Cabaletta Bio by 21.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,190,759 shares of the company’s stock valued at $9,806,000 after purchasing an additional 740,032 shares during the period.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.