Cabaletta Bio’s (CABA) Outperform Rating Reaffirmed at William Blair

William Blair restated their outperform rating on shares of Cabaletta Bio (NASDAQ:CABA) in a report released on Monday morning,RTT News reports.

Several other equities research analysts have also issued reports on CABA. Evercore ISI reduced their price target on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a report on Friday. Wells Fargo & Company reduced their price target on Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating for the company in a report on Friday. Finally, UBS Group initiated coverage on Cabaletta Bio in a report on Thursday, October 10th. They set a “buy” rating and a $10.00 price target for the company. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $27.30.

Cabaletta Bio Price Performance

Shares of Cabaletta Bio stock opened at $2.70 on Monday. The firm has a market cap of $131.89 million, a price-to-earnings ratio of -1.26 and a beta of 2.42. Cabaletta Bio has a 52-week low of $2.61 and a 52-week high of $26.35. The stock has a 50-day simple moving average of $4.20 and a 200-day simple moving average of $6.79.

Institutional Trading of Cabaletta Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Cabaletta Bio during the third quarter valued at approximately $32,000. Point72 DIFC Ltd acquired a new stake in Cabaletta Bio in the 3rd quarter valued at $33,000. EntryPoint Capital LLC acquired a new stake in Cabaletta Bio in the 1st quarter valued at $147,000. China Universal Asset Management Co. Ltd. boosted its stake in Cabaletta Bio by 65.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after buying an additional 3,724 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Cabaletta Bio in the 1st quarter valued at $191,000.

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.