Wells Fargo lowered the firm’s price target on Cabaletta Bio to $34 from $39 and keeps an Overweight rating on the shares. The firm remains positive on shares as updates from competitors at the ACR meeting this weekend should continue to demonstrate CAR-T therapies as “functional cures” in multiple autoimmune diseases and the firm believes that CABA-201’s Phase 1/2 in 1H24 will be positive, the analyst tells investors in a research note.
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Read More on CABA:
- Cabaletta Bio Reports Third Quarter 2023 Financial Results and Provides Business Update
- Cabaletta Bio expects cash to fund operations into 4Q25
- Cabaletta Bio reports Q3 EPS (37c), consensus (40c)
- Cellares, Cabaletta Bio team to evaluate CABA-201 manufacturing on Cell Shuttle
- Cabaletta Bio receives FDA clearance of CABA-201 IND application