As previously reported, Evercore ISI downgraded Cabaletta Bio (CABA) to In Line from Outperform with a price target of $6, down from $15. Following “a tough year for autoimmune auto CAR-T,” the whole field has traded off, the analyst tells investors. While Cabaletta is positioned well from a site recruitment perspective with enrollment accelerating, it’s unclear if clinical data will meaningfully move the stock given that investors focus is on the path to market, plus the competitive landscape, the analyst argues. The firm is downgrading shares until there is more clarity on financing to meet the need to ramp R&D spend, the analyst added.
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Read More on CABA:
- Cabaletta Bio downgraded to In Line from Outperform at Evercore ISI
- Cabaletta Bio downgraded to Equal Weight from Overweight at Wells Fargo
- Unusually active option classes on open December 2nd
- Biotech Alert: Searches spiking for these stocks today
- Cabaletta Bio Reports Q3 2024 Financial Results
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
