Cabaletta Bio (NASDAQ:CABA) Price Target Cut to $3.00 by Analysts at Wells Fargo & Company

Cabaletta Bio (NASDAQ:CABA - Get Free Report) had its price target decreased by research analysts at Wells Fargo & Company from $6.00 to $3.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 170.27% from the stock's previous close.

CABA has been the topic of a number of other reports. HC Wainwright restated a "buy" rating and set a $25.00 price target on shares of Cabaletta Bio in a research report on Tuesday, April 1st. Evercore ISI cut shares of Cabaletta Bio from an "outperform" rating to an "inline" rating and lowered their price objective for the stock from $15.00 to $6.00 in a research note on Friday, December 20th. Guggenheim reissued a "buy" rating and set a $23.00 target price on shares of Cabaletta Bio in a research note on Tuesday, April 1st. Morgan Stanley decreased their price target on shares of Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. Finally, UBS Group cut their price objective on Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. One equities 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 stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $21.00.

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Cabaletta Bio Stock Down 6.7 %

CABA stock traded down $0.08 during midday trading on Tuesday, reaching $1.11. The company had a trading volume of 1,634,701 shares, compared to its average volume of 1,499,228. The stock has a 50 day moving average price of $1.98 and a 200 day moving average price of $2.88. The firm has a market capitalization of $56.32 million, a PE ratio of -0.52 and a beta of 2.44. Cabaletta Bio has a fifty-two week low of $1.08 and a fifty-two week high of $19.04.

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

Institutional Investors Weigh In On Cabaletta Bio

A number of institutional investors have recently bought and sold shares of CABA. LPL Financial LLC boosted its holdings in shares of Cabaletta Bio by 15.6% during the fourth quarter. LPL Financial LLC now owns 42,386 shares of the company's stock worth $96,000 after purchasing an additional 5,716 shares during the period. Intech Investment Management LLC grew its holdings in shares of Cabaletta Bio by 42.2% during the 4th 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cabaletta Bio in the third quarter worth $32,000. Point72 DIFC Ltd acquired a new position in shares of Cabaletta Bio in the third quarter worth $33,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Cabaletta Bio by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 125,845 shares of the company's stock valued at $594,000 after purchasing an additional 7,518 shares in 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.