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

Cabaletta Bio (NASDAQ:CABA) had its price objective trimmed by UBS Group from $10.00 to $7.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts have also recently commented on CABA. Wells Fargo & Company cut shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $12.00 to $6.00 in a research note on Thursday, December 19th. Morgan Stanley reduced their target price on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday. Evercore ISI lowered Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their price target for the company from $15.00 to $6.00 in a research note on Friday, December 20th. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a report on Tuesday. Finally, Guggenheim reaffirmed a “buy” rating and set a $23.00 price objective on shares of Cabaletta Bio in a report on Tuesday. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cabaletta Bio currently has an average rating of “Buy” and an average target price of $22.00.

Cabaletta Bio Price Performance

Cabaletta Bio stock opened at $1.19 on Tuesday. Cabaletta Bio has a 1 year low of $1.14 and a 1 year high of $19.04. The firm’s 50 day moving average price is $2.00 and its 200-day moving average price is $2.91. The stock has a market cap of $58.16 million, a P/E ratio of -0.55 and a beta of 2.58.

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cabaletta Bio during the 3rd quarter valued at approximately $32,000. Point72 DIFC Ltd bought a new stake in Cabaletta Bio in the third quarter worth $33,000. Miller Financial Services LLC bought a new stake in Cabaletta Bio in the fourth quarter worth $33,000. Avanza Fonder AB bought a new position in Cabaletta Bio during the fourth quarter valued at $40,000. Finally, Intech Investment Management LLC increased its position in Cabaletta Bio by 42.2% during the fourth quarter. Intech Investment Management LLC now owns 20,203 shares of the company’s stock valued at $46,000 after acquiring an additional 5,999 shares during 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.