Morgan Stanley Issues Pessimistic Forecast for Cabaletta Bio (NASDAQ:CABA) Stock Price

Cabaletta Bio (NASDAQ:CABA) had its target price reduced by investment analysts at Morgan Stanley from $14.00 to $13.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 378.65% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued 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 target price of $14.00.

Cabaletta Bio Trading Down 3.7%

NASDAQ:CABA traded down $0.10 during mid-day trading on Tuesday, hitting $2.72. The company’s stock had a trading volume of 620,722 shares, compared to its average volume of 3,116,195. The company has a market capitalization of $261.46 million, a price-to-earnings ratio of -1.07 and a beta of 3.25. Cabaletta Bio has a fifty-two week low of $0.99 and a fifty-two week high of $3.78. The stock has a fifty day moving average of $2.86 and a 200-day moving average of $2.54.

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

Insider Activity

In other news, Director Mark Simon acquired 11,061 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were purchased at an average cost of $2.28 per share, with a total value of $25,219.08. Following the completion of the purchase, the director owned 147,205 shares of the company’s stock, valued at $335,627.40. This represents a 8.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven Nichtberger acquired 45,000 shares of the firm’s stock in a transaction on Wednesday, January 21st. The shares were purchased at an average cost of $2.24 per share, for a total transaction of $100,800.00. Following the completion of the purchase, the chief executive officer directly owned 1,031,483 shares of the company’s stock, valued at approximately $2,310,521.92. The trade was a 4.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 127,668 shares of company stock valued at $286,211 in the last ninety days. 11.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. bought a new position in Cabaletta Bio in the 4th quarter valued at $34,000. CRA Financial Services LLC grew its holdings in shares of Cabaletta Bio by 36.4% during the third quarter. CRA Financial Services LLC now owns 15,000 shares of the company’s stock worth $35,000 after purchasing an additional 4,000 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Cabaletta Bio in the fourth quarter valued at $38,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Cabaletta Bio in the fourth quarter valued at $43,000. Finally, Jones Financial Companies Lllp bought a new position in shares of Cabaletta Bio in the third quarter valued at about $47,000.

Cabaletta Bio Company Profile

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.