Cabaletta Bio (NASDAQ:CABA) Given New $4.00 Price Target at Wells Fargo & Company

Cabaletta Bio (NASDAQ:CABA) had its price target boosted by equities research analysts at Wells Fargo & Company from $2.00 to $4.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 13.80% from the company’s previous close.

CABA has been the subject of a number of other research reports. Wall Street Zen downgraded shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Cabaletta Bio in a report on Monday, May 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a report on Monday, April 20th. Morgan Stanley reduced their price target on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Finally, Guggenheim lifted their price target on Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.14.

Cabaletta Bio Price Performance

NASDAQ CABA opened at $3.52 on Friday. The company has a market capitalization of $391.29 million, a price-to-earnings ratio of -1.54 and a beta of 3.18. Cabaletta Bio has a 12 month low of $1.26 and a 12 month high of $4.23. The company’s fifty day moving average price is $3.17 and its two-hundred day moving average price is $2.76.

Cabaletta Bio (NASDAQ:CABA) last released its earnings results on Thursday, May 14th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.02. As a group, analysts anticipate that Cabaletta Bio will post -1.5 EPS for the current year.

Institutional Trading of Cabaletta Bio

A number of institutional investors and hedge funds have recently modified their holdings of CABA. Kestra Advisory Services LLC acquired a new position in shares of Cabaletta Bio in the first quarter valued at $32,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Cabaletta Bio in the 4th quarter valued at $34,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Cabaletta Bio during the 4th quarter worth about $38,000. Clear Harbor Asset Management LLC bought a new position in shares of Cabaletta Bio during the 4th quarter worth about $43,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Cabaletta Bio during the 3rd quarter valued at about $47,000.

About Cabaletta Bio

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.