Morgan Stanley Issues Pessimistic Forecast for Cabaletta Bio (NASDAQ:CABA) Stock Price

Cabaletta Bio (NASDAQ:CABA) had its target price reduced by analysts at Morgan Stanley from $30.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock.

A number of other research analysts have also weighed in on CABA. Wells Fargo & Company lowered shares of 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, December 19th. Evercore ISI cut 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 research report on Friday, December 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a report on Tuesday. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cabaletta Bio has an average rating of “Buy” and a consensus target price of $22.63.

Cabaletta Bio Stock Performance

Shares of CABA stock opened at $1.39 on Tuesday. The stock’s 50 day simple moving average is $2.09 and its 200 day simple moving average is $2.95. Cabaletta Bio has a twelve month low of $1.36 and a twelve month high of $19.04. The company has a market capitalization of $67.69 million, a price-to-earnings ratio of -0.64 and a beta of 2.58.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings results on Monday, March 31st. The company reported ($0.65) EPS for the quarter, meeting analysts’ consensus estimates of ($0.65). On average, analysts forecast that Cabaletta Bio will post -2.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Cabaletta Bio

Several large investors have recently added to or reduced their stakes in CABA. Point72 Asset Management L.P. bought a new stake in shares of Cabaletta Bio during the third quarter valued at approximately $3,150,000. Adage Capital Partners GP L.L.C. boosted its stake in Cabaletta Bio by 19.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 3,634,473 shares of the company’s stock worth $8,250,000 after buying an additional 597,828 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Cabaletta Bio by 195.8% in the 4th quarter. Two Sigma Advisers LP now owns 831,900 shares of the company’s stock valued at $1,888,000 after buying an additional 550,700 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Cabaletta Bio by 10.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,074,006 shares of the company’s stock valued at $9,248,000 after buying an additional 400,282 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Cabaletta Bio by 78.8% during the 4th quarter. Two Sigma Investments LP now owns 751,894 shares of the company’s stock worth $1,707,000 after acquiring an additional 331,417 shares during the period.

Cabaletta Bio Company Profile

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.