Cabaletta Bio (NASDAQ:CABA) Receives “Buy” Rating from HC Wainwright

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $16.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 400.78% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CABA. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research note on Monday, August 24th. Wells Fargo & Company dropped their price target on shares of Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Friday, July 17th. Wall Street Zen downgraded shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price 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 issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.33.

Cabaletta Bio Stock Up 2.7%

Cabaletta Bio stock traded up $0.09 during midday trading on Tuesday, reaching $3.19. The company’s stock had a trading volume of 3,757,867 shares, compared to its average volume of 3,792,240. The company has a market cap of $541.68 million, a P/E ratio of -2.03 and a beta of 3.30. The business has a 50-day simple moving average of $2.92 and a 200-day simple moving average of $3.10. Cabaletta Bio has a fifty-two week low of $1.42 and a fifty-two week high of $4.23.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.03. As a group, equities analysts forecast that Cabaletta Bio will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On Cabaletta Bio

Several large investors have recently modified their holdings of CABA. Invesco Ltd. grew its position in shares of Cabaletta Bio by 357.1% during the first quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock worth $85,000 after acquiring an additional 48,181 shares during the last quarter. Comerica Bank raised its position in Cabaletta Bio by 2,292.1% in the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock valued at $58,000 after purchasing an additional 39,860 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Cabaletta Bio in the 1st quarter valued at $102,000. XTX Topco Ltd acquired a new stake in Cabaletta Bio during the 2nd quarter worth $148,000. Finally, Marshall Wace LLP boosted its stake in Cabaletta Bio by 470.7% during the 2nd quarter. Marshall Wace LLP now owns 190,957 shares of the company’s stock worth $290,000 after purchasing an additional 157,497 shares during the period.

About Cabaletta Bio

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.