Cabaletta Bio (NASDAQ:CABA) Stock Price Target Lowered at Citigroup

Cabaletta Bio (NASDAQ:CABA) had its price target cut by equities researchers at Citigroup to $8.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup‘s price objective points to a potential upside of 424.59% from the stock’s current price.

CABA has been the topic of several other reports. Wall Street Zen raised shares of Cabaletta Bio from a “strong sell” rating to a “sell” rating in a research report on Saturday. Wells Fargo & Company lowered their target price on shares of Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 14th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Cabaletta Bio in a research report on Tuesday, September 1st. William Blair raised shares of Cabaletta Bio to a “strong-buy” rating in a research note on Wednesday, September 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cabaletta Bio has a consensus rating of “Moderate Buy” and a consensus target price of $14.33.

Cabaletta Bio Trading Up 17.3%

Shares of NASDAQ:CABA traded up $0.23 during midday trading on Monday, hitting $1.52. 4,615,905 shares of the stock were exchanged, compared to its average volume of 4,185,461. The stock has a market cap of $258.56 million, a P/E ratio of -1.07 and a beta of 3.56. Cabaletta Bio has a twelve month low of $1.18 and a twelve month high of $4.23. The company has a 50 day moving average price of $2.12 and a 200-day moving average price of $2.82.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04. On average, equities research analysts expect that Cabaletta Bio will post -1.29 earnings per share for the current year.

Institutional Trading of Cabaletta Bio

A number of institutional investors have recently modified their holdings of the company. StoneX Group Inc. acquired a new stake in Cabaletta Bio during the 3rd quarter worth approximately $26,000. Simplify Asset Management Inc. purchased a new stake in Cabaletta Bio during the third quarter worth approximately $1,068,000. Nisa Investment Advisors LLC grew its stake in Cabaletta Bio by 3,976.6% during the third quarter. Nisa Investment Advisors LLC now owns 33,061 shares of the company’s stock worth $63,000 after buying an additional 32,250 shares during the period. Opaleye Management Inc. grew its stake in Cabaletta Bio by 180.0% during the second quarter. Opaleye Management Inc. now owns 3,863,800 shares of the company’s stock worth $12,016,000 after buying an additional 2,483,800 shares during the period. Finally, WINTON GROUP Ltd increased its position in shares of Cabaletta Bio by 76.5% in the second quarter. WINTON GROUP Ltd now owns 27,000 shares of the company’s stock worth $84,000 after acquiring an additional 11,700 shares in the last quarter.

About Cabaletta Bio

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with B cell-mediated autoimmune diseases. The company’s approach is designed to selectively eliminate disease-causing immune cells and potentially provide durable disease remission rather than relying on continuous immunosuppression.

Its lead investigational product, CABA-201, is an autologous, fully human CD19 chimeric antigen receptor T-cell therapy designed to target and eliminate CD19-positive B cells.