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

Cabaletta Bio (NASDAQ:CABA) had its price objective lowered by equities research analysts at UBS Group from $10.00 to $7.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price indicates a potential upside of 432.32% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Guggenheim reiterated a “buy” rating and issued a $23.00 target price on shares of Cabaletta Bio in a research note on Tuesday. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research note on Tuesday. Wells Fargo & Company cut Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $12.00 to $6.00 in a research note on Thursday, December 19th. Morgan Stanley dropped their price objective on Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Evercore ISI lowered Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their target price for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $22.33.

Cabaletta Bio Stock Performance

Shares of Cabaletta Bio stock traded down $0.07 during midday trading on Tuesday, hitting $1.32. The company had a trading volume of 414,271 shares, compared to its average volume of 1,484,584. The company has a 50 day moving average of $2.09 and a 200 day moving average of $2.95. The stock has a market capitalization of $64.27 million, a P/E ratio of -0.61 and a beta of 2.58. Cabaletta Bio has a 52-week low of $1.29 and a 52-week high of $19.04.

Cabaletta Bio (NASDAQ:CABA) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.65) earnings per share for the quarter, meeting the consensus estimate of ($0.65). Equities research analysts forecast that Cabaletta Bio will post -2.34 EPS for the current year.

Hedge Funds Weigh In On Cabaletta Bio

Institutional investors and hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC purchased a new position in shares of Cabaletta Bio during the 3rd quarter worth $67,000. Charles Schwab Investment Management Inc. raised its holdings in Cabaletta Bio by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 125,845 shares of the company’s stock worth $594,000 after purchasing an additional 7,518 shares during the period. Walleye Capital LLC lifted its position in Cabaletta Bio by 111.6% during the third quarter. Walleye Capital LLC now owns 401,982 shares of the company’s stock valued at $1,897,000 after purchasing an additional 212,025 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cabaletta Bio in the third quarter worth about $32,000. Finally, Point72 Asset Management L.P. purchased a new stake in Cabaletta Bio in the third quarter worth about $3,150,000.

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.