Wells Fargo & Company Issues Pessimistic Forecast for Cabaletta Bio (NASDAQ:CABA) Stock Price

Cabaletta Bio (NASDAQ:CABA) had its price target lowered by stock analysts at Wells Fargo & Company from $6.00 to $3.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 155.32% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a report on Tuesday. Morgan Stanley lowered their target price on shares of Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday. Guggenheim reiterated a “buy” rating and issued a $23.00 target price on shares of Cabaletta Bio in a research report on Tuesday. UBS Group decreased their price objective on shares of Cabaletta Bio from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Evercore ISI cut shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and cut their price objective for the stock from $15.00 to $6.00 in a report on Friday, December 20th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cabaletta Bio presently has an average rating of “Buy” and a consensus target price of $22.00.

Cabaletta Bio Stock Down 5.2 %

NASDAQ CABA traded down $0.07 on Tuesday, reaching $1.18. The company had a trading volume of 196,542 shares, compared to its average volume of 1,490,431. The stock has a market cap of $57.43 million, a price-to-earnings ratio of -0.55 and a beta of 2.58. The stock’s 50 day moving average is $2.03 and its 200-day moving average is $2.92. Cabaletta Bio has a 52 week low of $1.15 and a 52 week high of $19.04.

Institutional Investors Weigh In On Cabaletta Bio

Several hedge funds have recently modified their holdings of CABA. Walleye Capital LLC increased its stake in shares of Cabaletta Bio by 111.6% during the third quarter. Walleye Capital LLC now owns 401,982 shares of the company’s stock worth $1,897,000 after purchasing an additional 212,025 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Cabaletta Bio during the 3rd quarter worth $3,150,000. BIT Capital GmbH purchased a new stake in shares of Cabaletta Bio during the fourth quarter worth $431,000. Geode Capital Management LLC lifted its stake in shares of Cabaletta Bio by 12.8% in the third quarter. Geode Capital Management LLC now owns 1,094,644 shares of the company’s stock worth $5,168,000 after buying an additional 124,071 shares in the last quarter. Finally, Barclays PLC boosted its position in Cabaletta Bio by 48.2% during the third quarter. Barclays PLC now owns 61,130 shares of the company’s stock worth $288,000 after acquiring an additional 19,891 shares during the last quarter.

About Cabaletta Bio

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.