Cabaletta Bio (NASDAQ:CABA) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company cut shares of Cabaletta Bio (NASDAQ:CABA) from an overweight rating to an equal weight rating in a report issued on Thursday, MarketBeat reports. Wells Fargo & Company currently has $6.00 price objective on the stock, down from their previous price objective of $12.00.

Other equities analysts have also recently issued reports about the stock. William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. UBS Group initiated coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They issued a “buy” rating and a $10.00 price target on the stock. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research note on Friday, November 29th. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $24.38.

Cabaletta Bio Stock Up 3.0 %

CABA opened at $2.38 on Thursday. Cabaletta Bio has a 12-month low of $1.76 and a 12-month high of $26.35. The business has a 50 day moving average of $3.50 and a 200-day moving average of $5.37. The stock has a market cap of $116.33 million, a price-to-earnings ratio of -1.11 and a beta of 2.37.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CABA. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cabaletta Bio in the 3rd quarter valued at $32,000. Point72 DIFC Ltd acquired a new stake in Cabaletta Bio in the third quarter valued at about $33,000. China Universal Asset Management Co. Ltd. grew its position in Cabaletta Bio by 65.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after acquiring an additional 3,724 shares during the last quarter. Intech Investment Management LLC acquired a new position in Cabaletta Bio during the third quarter worth about $67,000. Finally, GSA Capital Partners LLP bought a new position in shares of Cabaletta Bio in the third quarter worth about $127,000.

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.