Cabaletta Bio (NASDAQ:CABA) Given New $12.00 Price Target at Wells Fargo & Company

Cabaletta Bio (NASDAQ:CABA) had its price objective reduced by analysts at Wells Fargo & Company from $20.00 to $12.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 296.04% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Cabaletta Bio in a research report on Friday. Evercore ISI cut their price objective on Cabaletta Bio from $25.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Finally, UBS Group started coverage on Cabaletta Bio in a report on Thursday, October 10th. They set a “buy” rating and a $10.00 target price on the stock. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $27.30.

Cabaletta Bio Stock Down 19.8 %

NASDAQ:CABA opened at $3.03 on Friday. Cabaletta Bio has a 52-week low of $2.96 and a 52-week high of $26.35. The stock has a fifty day simple moving average of $4.23 and a 200-day simple moving average of $6.92. The company has a market capitalization of $148.02 million, a PE ratio of -1.59 and a beta of 2.42.

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cabaletta Bio during the third quarter worth about $32,000. Point72 DIFC Ltd acquired a new position in shares of Cabaletta Bio during the 3rd quarter valued at about $33,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 worth $44,000 after acquiring an additional 3,724 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Cabaletta Bio in the third quarter worth approximately $67,000. Finally, GSA Capital Partners LLP purchased a new stake in Cabaletta Bio in the third quarter valued at approximately $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.