William Blair analyst Sami Corwin has maintained their bullish stance on CABA stock, giving a Buy rating today.
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Sami Corwin has given his Buy rating due to a combination of factors including the progress in Cabaletta Bio’s clinical trials and the company’s proactive measures to address safety concerns. The enrollment in the RESET trials has increased, indicating strong momentum in their clinical research efforts across various conditions such as myositis, lupus, and systemic sclerosis.
Despite a recent safety incident involving a patient with systemic sclerosis, the company’s swift response and the independent data monitoring committee’s support for continuing the trial at the current dose demonstrate effective management and oversight. Furthermore, Cabaletta Bio’s anticipated meeting with the FDA to discuss a potential registrational trial suggests a clear path forward for their rese-cel therapy, reinforcing confidence in their strategic direction.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $22.00 price target.