Mizuho Cuts Cabaletta Bio (NASDAQ:CABA) Price Target to $10.00

Cabaletta Bio (NASDAQ:CABAGet Rating) had its target price reduced by Mizuho from $20.00 to $10.00 in a research report report published on Wednesday morning, The Fly reports. Mizuho currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on CABA. HC Wainwright restated a buy rating and issued a $11.00 price objective on shares of Cabaletta Bio in a report on Monday, May 16th. Zacks Investment Research lowered shares of Cabaletta Bio from a buy rating to a hold rating in a report on Tuesday, May 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cabaletta Bio has a consensus rating of Buy and a consensus target price of $13.75.

CABA stock opened at $1.33 on Wednesday. Cabaletta Bio has a 52-week low of $1.17 and a 52-week high of $14.95. The firm has a market capitalization of $38.54 million, a price-to-earnings ratio of -0.72 and a beta of 1.53. The firm has a 50 day moving average price of $1.68 and a 200-day moving average price of $3.95.

Cabaletta Bio (NASDAQ:CABAGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.08. Analysts forecast that Cabaletta Bio will post -2.07 earnings per share for the current year.

A number of large investors have recently bought and sold shares of CABA. Morgan Stanley grew its position in Cabaletta Bio by 361.2% in the 2nd quarter. Morgan Stanley now owns 109,209 shares of the company’s stock worth $940,000 after purchasing an additional 85,531 shares during the period. Bank of America Corp DE grew its position in Cabaletta Bio by 102.5% in the 2nd quarter. Bank of America Corp DE now owns 20,205 shares of the company’s stock worth $174,000 after purchasing an additional 10,227 shares during the period. BlackRock Inc. grew its position in Cabaletta Bio by 4.2% in the 3rd quarter. BlackRock Inc. now owns 330,481 shares of the company’s stock worth $4,019,000 after purchasing an additional 13,293 shares during the period. Goldman Sachs Group Inc. grew its position in Cabaletta Bio by 21.5% in the 3rd quarter. Goldman Sachs Group Inc. now owns 42,967 shares of the company’s stock worth $522,000 after purchasing an additional 7,594 shares during the period. Finally, Geode Capital Management LLC grew its position in Cabaletta Bio by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 118,640 shares of the company’s stock worth $1,442,000 after purchasing an additional 978 shares during the period. 62.75% of the stock is owned by institutional investors and hedge funds.

About Cabaletta Bio (Get Rating)

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. Its proprietary technology utilizes chimeric autoantibody receptor (CAAR) T cells that are designed to selectively bind and eliminate B cells, which produce disease-causing autoantibodies or pathogenic B cells.

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