Cabaletta Bio (NASDAQ:CABA) Cut to “Inline” at Evercore ISI

Evercore ISI lowered shares of Cabaletta Bio (NASDAQ:CABA) from an outperform rating to an inline rating in a research note published on Friday morning, MarketBeat.com reports. They currently have $6.00 price objective on the stock, down from their prior price objective of $15.00.

Several other brokerages have also weighed in on CABA. Wells Fargo & Company lowered Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $12.00 to $6.00 in a research report on Thursday. UBS Group assumed coverage on shares of Cabaletta Bio in a report on Thursday, October 10th. They set a “buy” rating and a $10.00 price objective on the stock. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Cabaletta Bio in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $24.38.

Cabaletta Bio Price Performance

Cabaletta Bio stock opened at $2.38 on Friday. The stock has a market cap of $116.33 million, a PE ratio of -1.11 and a beta of 2.37. The stock’s fifty day moving average is $3.50 and its two-hundred day moving average is $5.37. Cabaletta Bio has a 1-year low of $1.76 and a 1-year high of $26.35.

Institutional Trading of Cabaletta Bio

A number of large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its holdings in shares of Cabaletta Bio by 65.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after buying an additional 3,724 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Cabaletta Bio by 8.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 56,424 shares of the company’s stock valued at $422,000 after acquiring an additional 4,191 shares during the period. AlphaCentric Advisors LLC raised its stake in Cabaletta Bio by 7.7% during the 2nd quarter. AlphaCentric Advisors LLC now owns 70,000 shares of the company’s stock valued at $524,000 after acquiring an additional 5,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cabaletta Bio during the 3rd quarter worth approximately $32,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Cabaletta Bio in the 3rd quarter valued at approximately $33,000.

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.