Cantor Fitzgerald initiated coverage of Cabaletta Bio with an Overweight rating and $40 price target. The analyst sees Cabaletta as one of the most compelling small-cap names in biotech citing the validation of CAR-T for autoimmune diseases plus the company’s “strong (and underappreciated) positioning in the field.” The firm expects preliminary data for CABA-201 in Q2 of 2024 to act as a “strong catalyst for shares.”
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