Analyst Michael Ulz of Morgan Stanley maintained a Buy rating on Cabaletta Bio, retaining the price target of $22.00.
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Michael Ulz has given his Buy rating due to a combination of factors that highlight Cabaletta Bio’s promising clinical trial results and strategic plans. The company has demonstrated positive outcomes from its RESET trials, particularly in conditions such as systemic sclerosis (SSc), systemic lupus erythematosus (SLE), and myositis, where rese-cel has shown the ability to drive remission and organ responses without the need for immunosuppressants. These results are significant as they indicate the potential efficacy of Cabaletta’s therapies in treating complex autoimmune diseases.
Furthermore, Cabaletta Bio is actively progressing with its clinical development plans, including the initiation of a registrational cohort for dermatomyositis and antisynthetase syndrome (DM/ASyS) in the fourth quarter of 2025. The company’s strategy to align with the FDA on a registrational cohort for systemic sclerosis by the end of 2025 further underscores its commitment to advancing its pipeline. Additionally, upcoming data releases, such as the initial myasthenia gravis data at AANEM, provide potential catalysts for the stock, supporting the Buy rating given by Michael Ulz.