Cabaletta Bio (NASDAQ:CABA) Price Target Cut to $22.00 by Analysts at Morgan Stanley

Cabaletta Bio (NASDAQ:CABA - Get Free Report) had its price objective lowered by investment analysts at Morgan Stanley from $30.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the stock.

A number of other research firms have also issued reports on CABA. Evercore ISI lowered shares of Cabaletta Bio from an "outperform" rating to an "inline" rating and reduced their price target for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. Wells Fargo & Company downgraded shares of Cabaletta Bio from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Tuesday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued 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 price target of $21.00.

Cabaletta Bio Price Performance

NASDAQ CABA traded down $0.08 during trading on Tuesday, hitting $1.11. The company's stock had a trading volume of 1,634,701 shares, compared to its average volume of 1,497,163. The company has a market cap of $56.32 million, a PE ratio of -0.52 and a beta of 2.44. The business's 50 day simple moving average is $1.98 and its 200-day simple moving average is $2.89. Cabaletta Bio has a fifty-two week low of $1.08 and a fifty-two week high of $19.04.

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Cabaletta Bio (NASDAQ:CABA - Get Free Report) last released its earnings results on Monday, March 31st. The company reported ($0.65) earnings per share for the quarter, hitting the consensus estimate of ($0.65). Analysts expect that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CABA. T. Rowe Price Investment Management Inc. boosted its position in shares of Cabaletta Bio by 10.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,074,006 shares of the company's stock worth $9,248,000 after buying an additional 400,282 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in Cabaletta Bio by 19.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company's stock valued at $8,250,000 after acquiring an additional 597,828 shares during the period. Point72 Asset Management L.P. grew its position in Cabaletta Bio by 89.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,265,882 shares of the company's stock valued at $2,874,000 after acquiring an additional 598,607 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cabaletta Bio by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 1,110,702 shares of the company's stock valued at $2,522,000 after purchasing an additional 16,058 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of Cabaletta Bio by 195.8% in the fourth quarter. Two Sigma Advisers LP now owns 831,900 shares of the company's stock valued at $1,888,000 after purchasing an additional 550,700 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.