Cabaletta Bio (NASDAQ:CABA) Stock Price Target Lowered at Citigroup

Key Points

• Citigroup lowered its Cabaletta Bio price target to $8 but maintained a Buy rating; the target implies 424.59% upside from the prior close.
• Analyst views are mixed, though MarketBeat reports an overall “Moderate Buy” rating and an average price target of $14.33.
• Cabaletta Bio reported a quarterly loss of $0.28 per share, narrower than analysts’ $0.32 loss estimate. Shares traded at $1.52 on Monday.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) had its price target lowered by investment analysts at Citigroup to $8.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective indicates a potential upside of 424.59% from the stock's previous close.

CABA has been the topic of several other reports. TD Cowen upgraded shares of Cabaletta Bio to a "strong-buy" rating in a research note on Monday, August 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Cabaletta Bio in a research note on Thursday, October 15th. Wall Street Zen upgraded shares of Cabaletta Bio from a "strong sell" rating to a "sell" rating in a research note on Saturday. HC Wainwright reaffirmed a "buy" rating and set a $16.00 price objective on shares of Cabaletta Bio in a report on Tuesday, September 1st. Finally, Wells Fargo & Company dropped their price objective on Cabaletta Bio from $4.00 to $3.00 and set an "equal weight" rating on the stock in a report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cabaletta Bio has an average rating of "Moderate Buy" and an average target price of $14.33.

Cabaletta Bio Stock Performance

CABA stock traded up $0.23 during midday trading on Monday, reaching $1.52. 4,615,905 shares of the company were exchanged, compared to its average volume of 4,185,461. Cabaletta Bio has a 1-year low of $1.18 and a 1-year high of $4.23. The stock's 50-day simple moving average is $2.12 and its 200 day simple moving average is $2.82. The company has a market cap of $258.56 million, a price-to-earnings ratio of -1.07 and a beta of 3.56.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.04. On average, research analysts anticipate that Cabaletta Bio will post -1.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CABA. Opaleye Management Inc. boosted its position in shares of Cabaletta Bio by 180.0% during the 2nd quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company's stock worth $12,016,000 after purchasing an additional 2,483,800 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Cabaletta Bio in the 2nd quarter valued at about $2,079,000. BlackRock Inc. purchased a new position in shares of Cabaletta Bio in the 2nd quarter valued at about $33,447,000. Blue Owl Capital Holdings LP purchased a new position in shares of Cabaletta Bio in the 2nd quarter valued at about $2,223,000. Finally, Stonepine Capital Management LLC acquired a new stake in shares of Cabaletta Bio in the second quarter valued at about $2,852,181.

Cabaletta Bio Company Profile

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with B cell-mediated autoimmune diseases. The company's approach is designed to selectively eliminate disease-causing immune cells and potentially provide durable disease remission rather than relying on continuous immunosuppression.

Its lead investigational product, CABA-201, is an autologous, fully human CD19 chimeric antigen receptor T-cell therapy designed to target and eliminate CD19-positive B cells.

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