Cabaletta Bio (NASDAQ:CABA) Price Target Cut to $22.00 by Analysts at Morgan Stanley

Cabaletta Bio (NASDAQ:CABA) had its price target dropped by analysts at Morgan Stanley from $30.00 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock.

A number of other equities research analysts have also issued reports on CABA. Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and cut their price target for the company from $15.00 to $6.00 in a report on Friday, December 20th. Wells Fargo & Company downgraded shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $12.00 to $6.00 in a research note on Thursday, December 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a research report on Tuesday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.63.

Cabaletta Bio Stock Performance

NASDAQ CABA opened at $1.39 on Tuesday. Cabaletta Bio has a 1 year low of $1.36 and a 1 year high of $19.04. The business’s fifty day moving average is $2.09 and its two-hundred day moving average is $2.95. The stock has a market capitalization of $67.69 million, a P/E ratio of -0.64 and a beta of 2.58.

Cabaletta Bio (NASDAQ:CABA) last announced its earnings results on Monday, March 31st. The company reported ($0.65) EPS for the quarter, meeting the consensus estimate of ($0.65). On average, research analysts forecast that Cabaletta Bio will post -2.34 earnings per share for the current year.

Institutional Trading of Cabaletta Bio

A number of institutional investors have recently bought and sold shares of CABA. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cabaletta Bio during the 3rd quarter worth about $32,000. Point72 DIFC Ltd acquired a new position in Cabaletta Bio in the third quarter worth approximately $33,000. Miller Financial Services LLC bought a new position in Cabaletta Bio during the fourth quarter valued at approximately $33,000. Avanza Fonder AB bought a new position in Cabaletta Bio during the fourth quarter valued at approximately $40,000. Finally, Intech Investment Management LLC lifted its stake in Cabaletta Bio by 42.2% in the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock valued at $46,000 after acquiring an additional 5,999 shares during 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.