Cabaletta Bio (NASDAQ:CABA) Given New $12.00 Price Target at Wells Fargo & Company

Cabaletta Bio (NASDAQ:CABA - Free Report) had its price objective decreased by Wells Fargo & Company from $20.00 to $12.00 in a research note published on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts also recently commented on the stock. Evercore ISI dropped their target price on shares of Cabaletta Bio from $25.00 to $15.00 and set an "outperform" rating on the stock in a report on Monday, August 12th. HC Wainwright restated a "buy" rating and set a $25.00 price objective on shares of Cabaletta Bio in a report on Friday. Finally, UBS Group began coverage on shares of Cabaletta Bio in a research note on Thursday, October 10th. They issued a "buy" rating and a $10.00 target price for the company. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $27.30.

Cabaletta Bio Price Performance

Shares of Cabaletta Bio stock traded down $0.75 during trading hours on Friday, hitting $3.03. The company's stock had a trading volume of 3,853,207 shares, compared to its average volume of 1,089,786. The company has a market capitalization of $148.02 million, a PE ratio of -1.59 and a beta of 2.42. The stock has a 50 day moving average of $4.23 and a 200 day moving average of $6.92. Cabaletta Bio has a 12 month low of $2.96 and a 12 month high of $26.35.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cabaletta Bio during the 3rd quarter worth about $32,000. Point72 DIFC Ltd bought a new position in Cabaletta Bio during the third quarter worth about $33,000. China Universal Asset Management Co. Ltd. increased its position in Cabaletta Bio by 65.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company's stock worth $44,000 after buying 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 approximately $67,000. Finally, GSA Capital Partners LLP bought a new stake in Cabaletta Bio in the third quarter valued at approximately $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.