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

Cabaletta Bio (NASDAQ:CABA) had its price target reduced by Morgan Stanley from $30.00 to $22.00 in a report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

CABA has been the topic of a number of other reports. Wells Fargo & Company cut Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $12.00 to $6.00 in a report on Thursday, December 19th. Evercore ISI lowered Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their price target for the company from $15.00 to $6.00 in a research report on Friday, December 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Cabaletta Bio in a research note on Tuesday. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.00.

Cabaletta Bio Stock Performance

Shares of NASDAQ:CABA opened at $1.17 on Tuesday. The stock has a market capitalization of $57.19 million, a price-to-earnings ratio of -0.54 and a beta of 2.58. Cabaletta Bio has a 1-year low of $1.16 and a 1-year high of $19.04. The company has a 50 day moving average price of $2.06 and a 200 day moving average price of $2.93.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cabaletta Bio during the 3rd quarter valued at about $32,000. Point72 DIFC Ltd purchased a new position in Cabaletta Bio during the third quarter valued at approximately $33,000. Intech Investment Management LLC acquired a new position in Cabaletta Bio in the 3rd quarter valued at approximately $67,000. Miller Financial Services LLC purchased a new stake in Cabaletta Bio in the 4th quarter worth approximately $33,000. Finally, Avanza Fonder AB purchased a new stake in Cabaletta Bio in the 4th quarter worth approximately $40,000.

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.