Cabaletta Bio (NASDAQ:CABA) Price Target Lowered to $7.00 at UBS Group

Cabaletta Bio (NASDAQ:CABA) had its price target reduced by UBS Group from $10.00 to $7.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

CABA has been the topic of several other reports. Evercore ISI lowered Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. Morgan Stanley dropped their price objective on shares of Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday. Wells Fargo & Company downgraded shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a research report on Tuesday. Finally, Guggenheim restated a “buy” rating and issued a $23.00 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cabaletta Bio has a consensus rating of “Buy” and a consensus target price of $22.00.

Cabaletta Bio Trading Down 15.5 %

Shares of Cabaletta Bio stock 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 twelve month low of $1.16 and a twelve month high of $19.04. The business’s 50 day simple moving average is $2.06 and its 200-day simple moving average is $2.93.

Institutional Trading of Cabaletta Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of Cabaletta Bio by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 180,157 shares of the company’s stock valued at $409,000 after acquiring an additional 23,106 shares during the period. Two Sigma Advisers LP lifted its position in Cabaletta Bio by 195.8% in the fourth quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock worth $1,888,000 after purchasing an additional 550,700 shares during the period. Two Sigma Investments LP boosted its stake in Cabaletta Bio by 78.8% during the 4th quarter. Two Sigma Investments LP now owns 751,894 shares of the company’s stock valued at $1,707,000 after purchasing an additional 331,417 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Cabaletta Bio during the 4th quarter valued at $493,000. Finally, Point72 Asset Management L.P. raised its stake in shares of Cabaletta Bio by 89.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company’s stock worth $2,874,000 after buying an additional 598,607 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.