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

Cabaletta Bio (NASDAQ:CABA) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They currently have a $6.00 target price on the stock, down from their previous target price of $12.00. Wells Fargo & Company‘s target price suggests a potential upside of 152.10% from the stock’s current price.

Other research analysts also recently issued reports about the stock. William Blair restated an “outperform” rating on shares of Cabaletta Bio in a research report on Monday, November 18th. UBS Group assumed coverage on Cabaletta Bio in a research note on Thursday, October 10th. They issued a “buy” rating and a $10.00 target price on the stock. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research report on Friday, November 29th. Finally, HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $24.38.

Cabaletta Bio Trading Up 3.0 %

Shares of NASDAQ CABA opened at $2.38 on Thursday. The company has a 50 day simple moving average of $3.50 and a two-hundred day simple moving average of $5.40. The stock has a market cap of $116.33 million, a price-to-earnings ratio of -1.11 and a beta of 2.37. Cabaletta Bio has a 12 month low of $1.76 and a 12 month high of $26.35.

Institutional Trading of Cabaletta Bio

Several institutional investors have recently bought and sold shares of CABA. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Cabaletta Bio during the 3rd quarter valued at approximately $32,000. Point72 DIFC Ltd acquired a new position in Cabaletta Bio during the third quarter worth $33,000. China Universal Asset Management Co. Ltd. lifted its holdings in Cabaletta Bio by 65.7% during the third 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 in the last quarter. Intech Investment Management LLC purchased a new position in Cabaletta Bio during the third quarter valued at $67,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Cabaletta Bio during the third quarter worth about $127,000.

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.