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

Cabaletta Bio (NASDAQ:CABA - Get Free Report) had its target price decreased by equities researchers at UBS Group from $10.00 to $7.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock.

Other analysts have also issued research reports about the company. Guggenheim reaffirmed a "buy" rating and set a $23.00 price objective on shares of Cabaletta Bio in a research note on Tuesday. Wells Fargo & Company lowered shares of Cabaletta Bio from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $12.00 to $6.00 in a report on Thursday, December 19th. HC Wainwright restated a "buy" rating and issued a $25.00 target price on shares of Cabaletta Bio in a report on Tuesday. Evercore ISI downgraded Cabaletta Bio from an "outperform" rating to an "inline" rating and dropped their price objective for the stock from $15.00 to $6.00 in a report on Friday, December 20th. Finally, 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. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $21.00.

Cabaletta Bio Stock Down 6.7 %

Shares of NASDAQ CABA traded down $0.08 during midday trading on Tuesday, hitting $1.11. The company had a trading volume of 1,634,701 shares, compared to its average volume of 1,497,163. The business has a 50-day simple moving average of $1.98 and a two-hundred day simple moving average of $2.89. Cabaletta Bio has a twelve month low of $1.08 and a twelve month high of $19.04. The firm has a market capitalization of $56.32 million, a price-to-earnings ratio of -0.52 and a beta of 2.44.

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Cabaletta Bio (NASDAQ:CABA - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The company reported ($0.65) EPS for the quarter, meeting analysts' consensus estimates of ($0.65). On average, equities analysts forecast that Cabaletta Bio will post -2.34 EPS for the current year.

Institutional Trading of Cabaletta Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Walleye Capital LLC increased its position in shares of Cabaletta Bio by 111.6% in the 3rd quarter. Walleye Capital LLC now owns 401,982 shares of the company's stock worth $1,897,000 after purchasing an additional 212,025 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Cabaletta Bio in the third quarter valued at about $3,150,000. BIT Capital GmbH acquired a new stake in Cabaletta Bio during the fourth quarter valued at approximately $431,000. Geode Capital Management LLC raised its stake in Cabaletta Bio by 12.8% during the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company's stock valued at $5,168,000 after buying an additional 124,071 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Cabaletta Bio by 48.2% during the 3rd quarter. Barclays PLC now owns 61,130 shares of the company's stock worth $288,000 after buying an additional 19,891 shares during 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.