Cabaletta Bio (NASDAQ:CABA) Upgraded at TD Cowen

TD Cowen upgraded shares of Cabaletta Bio (NASDAQ:CABA) to a strong-buy rating in a research report sent to investors on Friday,Zacks.com reports.

A number of other equities analysts have also recently commented on the stock. Evercore ISI reduced their price objective on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Wells Fargo & Company cut their target price on shares of Cabaletta Bio from $20.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of Cabaletta Bio in a research note on Friday, November 15th. William Blair reissued an “outperform” rating on shares of Cabaletta Bio in a report on Monday, November 18th. Finally, UBS Group started coverage on Cabaletta Bio in a report on Thursday, October 10th. They set a “buy” rating and a $10.00 price objective for the company. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $26.25.

Cabaletta Bio Stock Up 26.9 %

Shares of NASDAQ CABA opened at $3.82 on Friday. Cabaletta Bio has a twelve month low of $1.76 and a twelve month high of $26.35. The business’s 50 day moving average price is $3.88 and its two-hundred day moving average price is $6.19. The company has a market cap of $186.71 million, a PE ratio of -1.78 and a beta of 2.42.

Institutional Investors Weigh In On Cabaletta Bio

A number of large investors have recently added to or reduced their stakes in CABA. Jennison Associates LLC lifted its position in shares of Cabaletta Bio by 1.6% during the 3rd quarter. Jennison Associates LLC now owns 5,632,681 shares of the company’s stock valued at $26,586,000 after acquiring an additional 86,214 shares during the period. Fred Alger Management LLC raised its stake in Cabaletta Bio by 63.3% in the third quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company’s stock valued at $19,444,000 after purchasing an additional 1,596,512 shares in the last quarter. Vanguard Group Inc. lifted its position 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 during the period. Sofinnova Investments Inc. grew 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 buying an additional 790,654 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 buying 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.