Morgan Stanley Cuts Cabaletta Bio (NASDAQ:CABA) Price Target to $13.00

Cabaletta Bio (NASDAQ:CABA) had its target price reduced by Morgan Stanley from $14.00 to $13.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday, January 21st. Seven equities 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Cabaletta Bio Price Performance

Shares of Cabaletta Bio stock opened at $2.82 on Tuesday. Cabaletta Bio has a 52-week low of $0.99 and a 52-week high of $3.78. The firm has a market capitalization of $313.92 million, a PE ratio of -1.24 and a beta of 3.25. The company’s fifty day moving average price is $2.90 and its two-hundred day moving average price is $2.55.

Cabaletta Bio (NASDAQ:CABA) last released its quarterly earnings data on Monday, March 30th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.05. Analysts predict that Cabaletta Bio will post -2.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cabaletta Bio news, Director Shawn Tomasello purchased 22,725 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were acquired at an average cost of $2.21 per share, for a total transaction of $50,222.25. Following the transaction, the director directly owned 22,725 shares in the company, valued at approximately $50,222.25. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steven Nichtberger purchased 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were acquired at an average cost of $2.24 per share, with a total value of $100,800.00. Following the completion of the acquisition, the chief executive officer directly owned 1,031,483 shares in the company, valued at approximately $2,310,521.92. This represents a 4.56% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 127,668 shares of company stock valued at $286,211 over the last quarter. 11.25% of the stock is owned by insiders.

Institutional Trading of Cabaletta Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in CABA. CRA Financial Services LLC raised its holdings in shares of Cabaletta Bio by 36.4% in the third quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock valued at $35,000 after buying an additional 4,000 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in Cabaletta Bio during the 4th quarter worth about $34,000. ANTIPODES PARTNERS Ltd acquired a new stake in Cabaletta Bio in the 4th quarter valued at about $38,000. Clear Harbor Asset Management LLC bought a new position in shares of Cabaletta Bio in the fourth quarter worth about $43,000. Finally, Jones Financial Companies Lllp bought a new position in shares of Cabaletta Bio in the third quarter worth 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.