Wells Fargo & Company Lowers Cabaletta Bio (NASDAQ:CABA) Price Target to $12.00

Cabaletta Bio (NASDAQ:CABA) had its price target cut by Wells Fargo & Company from $20.00 to $12.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also issued reports on CABA. Evercore ISI cut their price target on shares of Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Cabaletta Bio in a research report on Friday. Finally, UBS Group started coverage on Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 price objective on the stock. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $27.30.

Cabaletta Bio Trading Down 19.8 %

Shares of NASDAQ CABA opened at $3.03 on Friday. The stock has a market capitalization of $148.02 million, a PE ratio of -1.41 and a beta of 2.42. Cabaletta Bio has a twelve month low of $2.96 and a twelve month high of $26.35. The stock has a fifty day simple moving average of $4.23 and a 200-day simple moving average of $6.86.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds and other institutional investors have recently made changes to their positions in CABA. Jennison Associates LLC raised its holdings in Cabaletta Bio by 1.6% during the third quarter. Jennison Associates LLC now owns 5,632,681 shares of the company’s stock worth $26,586,000 after purchasing an additional 86,214 shares in the last quarter. Fred Alger Management LLC raised its stake in Cabaletta Bio by 63.3% during the 3rd quarter. Fred Alger Management LLC now owns 4,119,394 shares of the company’s stock worth $19,444,000 after acquiring an additional 1,596,512 shares in the last quarter. Vanguard Group Inc. lifted its position in Cabaletta Bio by 6.8% in the first quarter. Vanguard Group Inc. now owns 2,276,222 shares of the company’s stock valued at $38,832,000 after acquiring an additional 144,291 shares during the last quarter. Sofinnova Investments Inc. boosted its stake in Cabaletta Bio by 184.0% in the second quarter. Sofinnova Investments Inc. now owns 1,220,400 shares of the company’s stock valued at $9,129,000 after acquiring an additional 790,654 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Cabaletta Bio by 12.8% during the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after purchasing an additional 124,071 shares during 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.