Cabaletta Bio (NASDAQ:CABA) Rating Reiterated by HC Wainwright

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $30.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 181.43% from the company’s current price.

Several other research analysts have also weighed in on CABA. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 price target on shares of Cabaletta Bio in a research report on Friday, April 5th. Citigroup boosted their price target on Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company boosted their price target on Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Cabaletta Bio has a consensus rating of “Buy” and a consensus target price of $34.33.

Cabaletta Bio Stock Performance

NASDAQ CABA opened at $10.66 on Friday. The stock has a market capitalization of $514.66 million, a price-to-earnings ratio of -6.23 and a beta of 2.47. The stock’s 50 day moving average price is $12.56 and its two-hundred day moving average price is $17.81. Cabaletta Bio has a 52 week low of $9.52 and a 52 week high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Wednesday, May 15th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.03). On average, equities research analysts forecast that Cabaletta Bio will post -2.07 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CABA. Barclays PLC increased its holdings in shares of Cabaletta Bio by 1,167.4% during the 3rd quarter. Barclays PLC now owns 64,586 shares of the company’s stock worth $984,000 after acquiring an additional 59,490 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Cabaletta Bio by 24.7% during the 3rd quarter. Amalgamated Bank now owns 4,648 shares of the company’s stock worth $71,000 after acquiring an additional 922 shares during the last quarter. Swiss National Bank acquired a new position in shares of Cabaletta Bio during the 3rd quarter worth approximately $930,000. Citigroup Inc. increased its holdings in shares of Cabaletta Bio by 552.4% during the 3rd quarter. Citigroup Inc. now owns 49,695 shares of the company’s stock worth $756,000 after acquiring an additional 42,078 shares during the last quarter. Finally, Rafferty Asset Management LLC acquired a new position in shares of Cabaletta Bio during the 3rd quarter worth approximately $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.