Cabaletta Bio (NASDAQ:CABA) Rating Lowered to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Cabaletta Bio (NASDAQ:CABA) from an overweight rating to an equal weight rating in a research report released on Thursday, MarketBeat reports. The firm currently has $6.00 price target on the stock, down from their prior price target of $12.00.

CABA has been the topic of several other research reports. UBS Group assumed coverage on Cabaletta Bio in a research report on Thursday, October 10th. They set a “buy” rating and a $10.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research note on Friday, November 15th. One 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $24.38.

Cabaletta Bio Stock Up 0.9 %

CABA stock opened at $2.31 on Thursday. The company’s fifty day simple moving average is $3.54 and its 200 day simple moving average is $5.45. Cabaletta Bio has a 12-month low of $1.76 and a 12-month high of $26.35. The firm has a market cap of $112.91 million, a price-to-earnings ratio of -1.07 and a beta of 2.37.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Walleye Capital LLC raised its holdings in shares of Cabaletta Bio by 111.6% in the 3rd quarter. Walleye Capital LLC now owns 401,982 shares of the company’s stock worth $1,897,000 after acquiring an additional 212,025 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Cabaletta Bio during the 3rd quarter worth approximately $3,150,000. E Fund Management Co. Ltd. lifted its holdings in shares of Cabaletta Bio by 1,610.1% in the second quarter. E Fund Management Co. Ltd. now owns 286,424 shares of the company’s stock valued at $2,142,000 after purchasing an additional 269,675 shares in the last quarter. XTX Topco Ltd boosted its position in shares of Cabaletta Bio by 490.2% during the third quarter. XTX Topco Ltd now owns 87,455 shares of the company’s stock valued at $413,000 after buying an additional 72,638 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Cabaletta Bio by 70.7% during the 2nd quarter. Victory Capital Management Inc. now owns 634,217 shares of the company’s stock worth $4,744,000 after acquiring an additional 262,594 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.