William Blair Reiterates Outperform Rating for Cabaletta Bio (NASDAQ:CABA)

Cabaletta Bio (NASDAQ:CABA)‘s stock had its “outperform” rating reissued by research analysts at William Blair in a research note issued on Monday,RTT News reports.

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

Cabaletta Bio Trading Down 10.9 %

Shares of CABA traded down $0.33 during mid-day trading on Monday, hitting $2.70. The company’s stock had a trading volume of 3,097,433 shares, compared to its average volume of 1,098,802. The firm has a 50-day simple moving average of $4.23 and a 200 day simple moving average of $6.86. Cabaletta Bio has a 1-year low of $2.61 and a 1-year high of $26.35. The firm has a market capitalization of $131.90 million, a P/E ratio of -1.26 and a beta of 2.42.

Institutional Trading of Cabaletta Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fred Alger Management LLC boosted its stake in shares of 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 buying an additional 1,596,512 shares during the period. Sofinnova Investments Inc. boosted its holdings 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 during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Cabaletta Bio during the 3rd quarter valued at approximately $3,150,000. Panagora Asset Management Inc. purchased a new stake in shares of Cabaletta Bio during the second quarter worth $2,243,000. Finally, Squarepoint Ops LLC grew its position in shares of Cabaletta Bio by 643.3% during the 2nd quarter. Squarepoint Ops LLC now owns 315,379 shares of the company’s stock valued at $2,359,000 after purchasing an additional 272,948 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.