Cabaletta Bio (NASDAQ:CABA) Price Target Increased to $28.00 by Analysts at Morgan Stanley

Cabaletta Bio (NASDAQ:CABA) had its price objective increased by Morgan Stanley from $16.00 to $28.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued reports about the stock. HC Wainwright restated a buy rating and issued a $17.00 target price on shares of Cabaletta Bio in a report on Wednesday, October 4th. Guggenheim restated a buy rating and issued a $34.00 target price on shares of Cabaletta Bio in a report on Monday, August 14th. Wells Fargo & Company boosted their target price on shares of Cabaletta Bio from $14.00 to $39.00 and gave the stock an overweight rating in a report on Monday, September 18th. Cantor Fitzgerald began coverage on shares of Cabaletta Bio in a report on Tuesday, October 24th. They set an overweight rating and a $40.00 price target on the stock. Finally, Citigroup began coverage on shares of Cabaletta Bio in a report on Tuesday, September 5th. They set a buy rating and a $22.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Cabaletta Bio has a consensus rating of Buy and an average price target of $25.90.

Cabaletta Bio Stock Up 2.1 %

Shares of CABA stock opened at $17.88 on Wednesday. The stock has a market cap of $711.80 million, a P/E ratio of -10.46 and a beta of 2.50. Cabaletta Bio has a 52 week low of $2.00 and a 52 week high of $19.34. The company’s fifty day simple moving average is $15.01 and its two-hundred day simple moving average is $13.25.

Cabaletta Bio (NASDAQ:CABA) last posted its earnings results on Thursday, August 10th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.10. On average, analysts anticipate that Cabaletta Bio will post -1.64 EPS for the current fiscal year.

Insider Buying and Selling at Cabaletta Bio

In other Cabaletta Bio news, insider Gwendolyn Binder sold 11,000 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $17.57, for a total value of $193,270.00. Following the completion of the sale, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $351,400. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 33,000 shares of company stock valued at $487,850 in the last three months. Company insiders own 12.33% of the company’s stock.

Institutional Investors Weigh In On Cabaletta Bio

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of Cabaletta Bio by 47.0% in the 3rd quarter. Rhumbline Advisers now owns 42,602 shares of the company’s stock worth $648,000 after purchasing an additional 13,622 shares during the period. Deutsche Bank AG lifted its position in shares of Cabaletta Bio by 84.7% in the 3rd quarter. Deutsche Bank AG now owns 21,135 shares of the company’s stock worth $322,000 after purchasing an additional 9,692 shares during the period. Citigroup Inc. lifted its position in shares of Cabaletta Bio by 552.4% in the 3rd quarter. Citigroup Inc. now owns 49,695 shares of the company’s stock worth $756,000 after purchasing an additional 42,078 shares during the period. UBS Group AG lifted its position in shares of Cabaletta Bio by 134.5% in the 3rd quarter. UBS Group AG now owns 34,983 shares of the company’s stock worth $532,000 after purchasing an additional 20,063 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cabaletta Bio by 40.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 96,005 shares of the company’s stock worth $1,461,000 after purchasing an additional 27,456 shares during the period.

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 DSG3-CAART, which is in Phase I clinical trial for the treatment of mucosal pemphigus vulgaris, an autoimmune blistering skin disease.