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

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

A number of other brokerages have also weighed in on CABA. UBS Group started coverage on Cabaletta Bio in a research report on Thursday, October 10th. They issued a “buy” rating and a $10.00 price objective on the stock. Wells Fargo & Company cut their price objective on Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Friday, November 15th. Finally, Evercore ISI dropped their price target on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cabaletta Bio presently has an average rating of “Buy” and an average target price of $27.30.

Cabaletta Bio Stock Down 11.0 %

Shares of NASDAQ CABA opened at $2.26 on Monday. Cabaletta Bio has a 52 week low of $2.18 and a 52 week high of $26.35. The business has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $6.69. The company has a market cap of $110.47 million, a P/E ratio of -1.05 and a beta of 2.42.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in Cabaletta Bio by 1.6% during the third quarter. Jennison Associates LLC now owns 5,632,681 shares of the company’s stock worth $26,586,000 after purchasing an additional 86,214 shares in the last quarter. Fred Alger Management LLC lifted its stake in Cabaletta Bio by 63.3% during the third quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company’s stock worth $19,444,000 after purchasing an additional 1,596,512 shares in the last quarter. Vanguard Group Inc. lifted its stake in Cabaletta Bio by 6.8% during the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock worth $38,832,000 after purchasing an additional 144,291 shares in the last quarter. Sofinnova Investments Inc. lifted its stake in Cabaletta Bio by 184.0% during the second quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock worth $9,129,000 after purchasing an additional 790,654 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Cabaletta Bio by 12.8% during the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after purchasing an additional 124,071 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.