Wells Fargo & Company Lowers Cabaletta Bio (NASDAQ:CABA) Price Target to $3.00

Key Points

• Wells Fargo lowered Cabaletta Bio’s price target from $4.00 to $3.00 while maintaining an “equal weight” rating, implying 12.57% upside from the prior close.
• Analyst opinions remain mixed: MarketBeat reports a “Moderate Buy” consensus and $15.33 average target, while Wall Street Zen and Weiss Ratings maintain sell ratings.
• CABA shares fell 1.7% to $2.67. Cabaletta Bio reported a quarterly loss of $0.34 per share, beating estimates of a $0.37 loss, and analysts expect a full-year loss of $1.38 per share.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) had its price target lowered by research analysts at Wells Fargo & Company from $4.00 to $3.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 12.57% from the stock's previous close.

Several other analysts also recently weighed in on CABA. Wall Street Zen downgraded shares of Cabaletta Bio from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cabaletta Bio in a research note on Friday, July 17th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 price objective on shares of Cabaletta Bio in a research report on Monday, May 4th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $15.33.

Cabaletta Bio Trading Down 1.7%

Shares of CABA traded down $0.04 during midday trading on Friday, reaching $2.67. The stock had a trading volume of 902,177 shares, compared to its average volume of 3,697,239. The company has a market capitalization of $434.53 million, a price-to-earnings ratio of -1.35 and a beta of 3.30. The company's 50-day moving average is $2.90 and its 200 day moving average is $3.06. Cabaletta Bio has a 12-month low of $1.40 and a 12-month high of $4.23.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.03. Research analysts forecast that Cabaletta Bio will post -1.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CABA. Private Advisor Group LLC lifted its holdings in shares of Cabaletta Bio by 22.4% during the 1st quarter. Private Advisor Group LLC now owns 18,025 shares of the company's stock valued at $48,000 after buying an additional 3,300 shares during the period. SG Americas Securities LLC increased its holdings in Cabaletta Bio by 44.0% during the fourth quarter. SG Americas Securities LLC now owns 30,629 shares of the company's stock valued at $67,000 after buying an additional 9,365 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Cabaletta Bio during the 1st quarter valued at approximately $32,000. SummitTX Capital L.P. bought a new stake in Cabaletta Bio in the first quarter worth about $34,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in Cabaletta Bio in the 4th quarter valued at $34,000.

About Cabaletta Bio

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company's lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.

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