Cabaletta Bio (NASDAQ:CABA) Price Target Raised to $4.00 at Wells Fargo & Company

Cabaletta Bio (NASDAQ:CABA) had its target price boosted by Wells Fargo & Company from $2.00 to $4.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research firms also recently commented on CABA. Guggenheim increased their target price on Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Monday, April 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 target price on shares of Cabaletta Bio in a research report on Monday, May 4th. Wall Street Zen downgraded Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Finally, Morgan Stanley lowered their target price on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.50.

Cabaletta Bio Stock Performance

NASDAQ CABA opened at $3.31 on Friday. The company has a market capitalization of $368.47 million, a P/E ratio of -1.69 and a beta of 3.18. Cabaletta Bio has a one year low of $1.26 and a one year high of $4.23. The stock has a 50 day moving average price of $3.17 and a 200-day moving average price of $2.76.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, May 14th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.02. As a group, equities analysts predict that Cabaletta Bio will post -1.5 EPS for the current fiscal year.

Institutional Trading of Cabaletta Bio

A number of institutional investors have recently bought and sold shares of CABA. Adage Capital Partners GP L.L.C. lifted its position in Cabaletta Bio by 142.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock worth $13,421,000 after buying an additional 5,195,285 shares during the last quarter. Millennium Management LLC lifted its position in Cabaletta Bio by 298.5% in the fourth quarter. Millennium Management LLC now owns 2,736,912 shares of the company’s stock worth $5,994,000 after buying an additional 2,050,099 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Cabaletta Bio by 17.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock worth $21,590,000 after buying an additional 1,495,768 shares during the last quarter. Woodline Partners LP lifted its position in Cabaletta Bio by 75.2% in the third quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock worth $4,997,000 after buying an additional 916,884 shares during the last quarter. Finally, Ikarian Capital LLC bought a new stake in Cabaletta Bio in the fourth quarter worth $1,971,000.

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.