Cabaletta Bio (NASDAQ:CABA) Rating Reiterated by Cantor Fitzgerald

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $50.00 target price on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 489.62% from the company’s previous close.

Several other research firms have also issued reports on CABA. Wells Fargo & Company upped their price target on shares of Cabaletta Bio from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target on shares of Cabaletta Bio in a research report on Monday, June 17th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Cabaletta Bio in a research report on Friday, June 14th. Finally, Citigroup upped their price target on shares of Cabaletta Bio from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $34.44.

Cabaletta Bio Stock Up 1.8 %

Shares of CABA stock opened at $8.48 on Friday. The company’s fifty day simple moving average is $11.63 and its 200-day simple moving average is $17.57. The firm has a market cap of $409.39 million, a PE ratio of -4.96 and a beta of 2.47. Cabaletta Bio has a 12 month low of $7.64 and a 12 month high of $26.35.

Cabaletta Bio (NASDAQ:CABA) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.03). On average, equities analysts predict that Cabaletta Bio will post -2.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

Institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC grew its stake in shares of Cabaletta Bio by 110.4% in the first quarter. Jennison Associates LLC now owns 3,422,984 shares of the company’s stock valued at $58,396,000 after acquiring an additional 1,796,356 shares in the last quarter. Perceptive Advisors LLC grew its stake in shares of Cabaletta Bio by 76.9% in the fourth quarter. Perceptive Advisors LLC now owns 2,003,058 shares of the company’s stock valued at $45,469,000 after acquiring an additional 870,567 shares in the last quarter. Redmile Group LLC grew its stake in shares of Cabaletta Bio by 29.5% in the third quarter. Redmile Group LLC now owns 1,774,252 shares of the company’s stock valued at $27,004,000 after acquiring an additional 403,953 shares in the last quarter. Blackstone Inc. acquired a new position in shares of Cabaletta Bio in the fourth quarter valued at about $7,888,000. Finally, Victory Capital Management Inc. grew its stake in shares of Cabaletta Bio by 506.0% in the fourth quarter. Victory Capital Management Inc. now owns 403,927 shares of the company’s stock valued at $9,169,000 after acquiring an additional 337,277 shares in the last quarter.

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.