William Blair Reaffirms 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 to investors on Monday,RTT News reports.

CABA has been the subject of a number of other research reports. 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. Evercore ISI decreased their price target on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research note on Friday. Finally, UBS Group started coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 target price on the stock. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $27.30.

Cabaletta Bio Stock Performance

Cabaletta Bio stock traded down $0.33 during trading hours on Monday, hitting $2.70. 3,097,433 shares of the stock were exchanged, compared to its average volume of 1,098,802. Cabaletta Bio has a 12 month low of $2.61 and a 12 month high of $26.35. The business’s 50-day moving average is $4.23 and its two-hundred day moving average is $6.86. The stock has a market capitalization of $131.90 million, a P/E ratio of -1.26 and a beta of 2.42.

Institutional Investors Weigh In On Cabaletta Bio

Large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Cabaletta Bio in the 3rd quarter worth about $32,000. Point72 DIFC Ltd acquired a new stake in shares of Cabaletta Bio in the third quarter worth $33,000. China Universal Asset Management Co. Ltd. raised its position in Cabaletta Bio by 65.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after acquiring an additional 3,724 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Cabaletta Bio during the 3rd quarter valued at about $67,000. Finally, GSA Capital Partners LLP acquired a new position in Cabaletta Bio during the third quarter worth $127,000.

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.