Cabaletta Bio (NASDAQ:CABA) Price Target Cut to $12.00 by Analysts at Wells Fargo & Company

Cabaletta Bio (NASDAQ:CABA) had its target price reduced by Wells Fargo & Company from $20.00 to $12.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently issued reports on CABA. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a report on Friday. Evercore ISI reduced 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. Finally, UBS Group began coverage on Cabaletta Bio in a report on Thursday, October 10th. They issued a “buy” rating and a $10.00 price objective on the stock. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $27.30.

Cabaletta Bio Stock Performance

NASDAQ CABA opened at $2.70 on Friday. The stock has a market cap of $131.89 million, a PE ratio of -1.26 and a beta of 2.42. The firm has a 50-day moving average of $4.20 and a 200-day moving average of $6.79. Cabaletta Bio has a 52-week low of $2.61 and a 52-week high of $26.35.

Hedge Funds Weigh In On Cabaletta Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CABA. Geode Capital Management LLC grew its holdings in shares of Cabaletta Bio by 12.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after purchasing an additional 124,071 shares in the last quarter. Barclays PLC lifted its position in Cabaletta Bio by 48.2% during the third quarter. Barclays PLC now owns 61,130 shares of the company’s stock worth $288,000 after purchasing an additional 19,891 shares during the period. XTX Topco Ltd lifted its position in Cabaletta Bio by 490.2% during the third quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock worth $413,000 after purchasing an additional 72,638 shares during the period. Point72 DIFC Ltd acquired a new stake in Cabaletta Bio during the third quarter worth about $33,000. Finally, Point72 Asset Management L.P. bought a new position in Cabaletta Bio in the 3rd quarter valued at about $3,150,000.

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.