Guggenheim Reiterates Buy Rating on Cabaletta Bio Amid Promising Data

Guggenheim analysts reaffirmed a Buy rating and a $23 price target for Cabaletta Bio (NASDAQ:CABA) following the company’s third-quarter results. The analysts highlighted several positive developments that support the company’s progress and growth prospects.

Enrollment for Cabaletta’s clinical trials showed significant acceleration, with 16 patients enrolled across 40 active sites as of November 12, compared to 9 patients as of August 5, 2024. This marks a meaningful step forward in advancing its programs. In 2025, the company plans to engage with the FDA to discuss a potential registrational pathway for its lead candidate, CABA-201.

At the American College of Rheumatology (ACR) meeting, Cabaletta presented data from eight patients across conditions including Myositis, systemic lupus erythematosus (SLE), and systemic sclerosis (SSc). Additionally, initial data from its generalized Myasthenia Gravis (gMG) study are expected in the first half of 2025, further advancing its pipeline.