Cabaletta Bio (NASDAQ:CABA) Downgraded by Evercore ISI to Inline

Evercore ISI cut shares of Cabaletta Bio (NASDAQ:CABA) from an outperform rating to an inline rating in a report issued on Friday morning, Marketbeat reports. They currently have $6.00 price target on the stock, down from their prior price target of $15.00.

Several other analysts have also issued reports on CABA. UBS Group initiated coverage on shares of Cabaletta Bio in a research report on Thursday, October 10th. They issued a “buy” rating and a $10.00 price target on the stock. TD Cowen raised Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Cabaletta Bio in a report on Friday, November 15th. Wells Fargo & Company lowered Cabaletta Bio from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $12.00 to $6.00 in a report on Thursday. Finally, William Blair restated an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $24.38.

Cabaletta Bio Trading Up 3.0 %

Shares of Cabaletta Bio stock opened at $2.38 on Friday. Cabaletta Bio has a 1 year low of $1.76 and a 1 year high of $26.35. The company’s fifty day simple moving average is $3.50 and its 200-day simple moving average is $5.40. The company has a market cap of $116.33 million, a price-to-earnings ratio of -1.11 and a beta of 2.37.

Institutional Trading of Cabaletta Bio

Several institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Cabaletta Bio during the third quarter valued at $32,000. Point72 DIFC Ltd bought a new position in Cabaletta Bio during the 3rd quarter valued at about $33,000. China Universal Asset Management Co. Ltd. lifted its holdings in Cabaletta Bio by 65.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,395 shares of the company’s stock valued at $44,000 after purchasing an additional 3,724 shares during the last quarter. Intech Investment Management LLC acquired a new position in Cabaletta Bio in the third quarter valued at about $67,000. Finally, GSA Capital Partners LLP bought a new stake in Cabaletta Bio during the third quarter worth about $127,000.

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.