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

Cabaletta Bio (NASDAQ:CABA) had its price target reduced by equities researchers at UBS Group from $10.00 to $7.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 464.52% from the company’s current price.

A number of other equities analysts have also commented on the stock. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a report on Tuesday. Guggenheim reissued a “buy” rating and issued a $23.00 price target on shares of Cabaletta Bio in a research note on Tuesday. Morgan Stanley decreased their price objective on shares of Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday. Evercore ISI cut 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 research report on Friday, December 20th. Finally, Wells Fargo & Company downgraded Cabaletta Bio from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $12.00 to $6.00 in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cabaletta Bio has an average rating of “Buy” and an average price target of $22.00.

Cabaletta Bio Price Performance

Shares of NASDAQ CABA opened at $1.24 on Tuesday. Cabaletta Bio has a 1 year low of $1.16 and a 1 year high of $19.04. The firm has a market cap of $60.61 million, a PE ratio of -0.58 and a beta of 2.58. The company has a 50 day simple moving average of $2.03 and a 200 day simple moving average of $2.92.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CABA. Point72 Asia Singapore Pte. Ltd. bought a new position in Cabaletta Bio during the 3rd quarter valued at $32,000. Point72 DIFC Ltd purchased a new position in Cabaletta Bio during the third quarter worth about $33,000. Miller Financial Services LLC bought a new stake in Cabaletta Bio in the 4th quarter worth about $33,000. Avanza Fonder AB purchased a new stake in Cabaletta Bio in the 4th quarter valued at about $40,000. Finally, Intech Investment Management LLC lifted its position in shares of Cabaletta Bio by 42.2% during the 4th quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock worth $46,000 after buying an additional 5,999 shares in the last quarter.

About Cabaletta Bio

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.