Cabaletta Bio (CABA) AI Stock Analysis

• Market Cap: $241.63M
• Dividend Yield: N/A
• Average Volume (3M): 1.78M
• Price to Earnings (P/E): ―
• Beta (1Y): 4.18
• Revenue Growth: N/A
• EPS Growth: -17.21%
• Country: US
• Employees: 161
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.44
• Shares Outstanding: 96,265,205
• 10 Day Avg. Volume: 1,313,293
• 30 Day Avg. Volume: 1,776,838
• PEG Ratio: -0.02
• Price to Book (P/B): 0.74
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.24
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -107.52
• Enterprise Value/Ebitda: -1.23
• 1Y Price Target: $12.60
• Price Target Upside: 401.99% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $2.50 ▼(-0.40% Downside)

The score is held down primarily by weak financial performance (no revenue, expanding losses, and heavy cash burn that elevates funding risk). Offsetting factors include strong recent technical momentum and positive corporate developments around registrational progress and manufacturing readiness, but valuation remains constrained by ongoing losses.

Positive Factors

Regulatory/Registrational Progress

FDA-aligned registrational cohorts and an explicit BLA target materially de-risk the development path. Achieving registration would transition Cabaletta from R&D to a commercial-stage company, enabling recurring product revenue and validating the business model across autoimmune indications.

Manufacturing Readiness

Early clearance to use an automated Cell Shuttle for autologous CAR T is a structural advantage: it can lower per-patient manufacturing cost, improve reproducibility and GMP readiness, and materially ease scale-up and commercial supply if rese-cel is approved.

Access to Partnership and Financing

A history of collaboration payments and demonstrated access to capital markets provides multiple funding levers to sustain clinical development. Strategic partnerships can deliver non-dilutive milestones and validate technology to potential commercial partners long-term.

Negative Factors

Pre-commercial, No Product Revenue

The company currently generates no product revenue, leaving long-term viability dependent on successful trials and approvals. Until commercialization or sustainable partnerships, operational funding and revenue diversification remain unresolved structural risks.

High and Rising Cash Burn

Sustained, accelerating negative operating and free cash flow materially increases reliance on external financing. Persistent burn elevates dilution and runway pressure, making the company vulnerable if capital markets tighten before key registrational milestones are achieved.

Erosion of Shareholder Capital

Declining equity and deeply negative ROE indicate shareholder capital is being consumed to fund development. A shrinking equity base limits balance sheet flexibility and increases funding risk, potentially constraining strategic options or increasing cost of capital.

Cabaletta Bio Business Overview & Revenue Model

Company Description

Cabaletta Bio, Inc., a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with B cell-mediated autoimmune diseases. Its proprietary technology utilizes chimeric autoantibody receptor (CAAR) T cells that are designed to selectively bind and eliminate B cells, which produce disease-causing autoantibodies or pathogenic B cells. The company's lead product candidate is DSG3-CAART, which is in Phase I clinical trial for the treatment of mucosal pemphigus vulgaris, an autoimmune blistering skin disease, and Hemophilia A with Factor VIII alloantibodies. Its product candidate pipeline also includes MuSK-CAART, a preclinical stage product to treat a subset of patients with myasthenia gravis; FVIII-CAART, a discovery stage product to treat a subset of patients with Hemophilia A; and DSG3/1-CAART, a discovery stage product for the treatment of mucocutaneous pemphigus vulgaris. It has a collaboration with the University of Pennsylvania; and research agreement with The Regents of the University of California. The company was formerly known as Tycho Therapeutics, Inc. and changed its name to Cabaletta Bio, Inc. in August 2018. Cabaletta Bio, Inc. was incorporated in 2017 and is headquartered in Philadelphia, Pennsylvania.

How the Company Makes Money

Cabaletta Bio generates revenue primarily through the development and potential commercialization of its CAAR T cell therapies. The company may earn income from collaborations and partnerships with other pharmaceutical or biotechnology firms for research, development, and commercialization efforts. Additionally, Cabaletta Bio might receive milestone payments, licensing fees, or royalties related to its technology and products. The company's financial performance is significantly influenced by the progress of its clinical trials, regulatory approvals, and the successful commercialization of its therapies.

Cabaletta Bio Financial Statement Overview

Summary

Development-stage profile with no revenue and widening losses (net loss ~$158.5M TTM; EBIT ~$-163.4M TTM) alongside significant cash burn (operating cash flow ~$-118.9M TTM; FCF ~$-120.3M TTM). Leverage is modest (debt-to-equity ~0.18), but shrinking equity and ongoing burn increase funding/runway risk.

Income Statement

Cabaletta Bio remains pre-revenue (no reported revenue across annual periods and TTM (Trailing-Twelve-Months)), with persistent and widening losses over time. Net loss expanded from about $33.4M (2020) to $115.9M (2024) and ~$158.5M in TTM (Trailing-Twelve-Months) 2025, alongside deeper operating losses (EBIT roughly -$163.4M TTM). A positive is that the company still shows a clear investment phase typical for biotech, but the current trajectory reflects accelerating burn and limited near-term profitability visibility based on the provided figures.

Balance Sheet

The balance sheet shows relatively modest leverage, with debt-to-equity at ~0.18 in TTM (Trailing-Twelve-Months) 2025 (up from near-zero earlier years), suggesting debt is present but not dominant. However, equity has declined from ~$236.2M (2023) to ~$152.3M (2024) and ~$139.5M TTM, consistent with ongoing losses. Returns on equity are deeply negative (about -1.07 TTM), highlighting that shareholder capital is being consumed, even if the absolute debt load remains manageable.

Cash Flow

Cash generation is weak, with ongoing cash burn: operating cash flow was about -$88.2M (2024) and worsened to roughly -$118.9M in TTM (Trailing-Twelve-Months) 2025, with free cash flow also negative (~-$120.3M TTM). A modest positive is that free cash flow was less negative versus the prior period on a growth basis in TTM (Trailing-Twelve-Months) 2025, and free cash flow roughly tracks net loss (free cash flow to net income near ~1.0), indicating losses are largely cash-backed rather than heavily distorted by non-cash items. Still, the sustained burn increases funding risk if capital markets tighten.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-1.77M	-4.81M	-1.43M	-3.68M	-733.00K	-354.00K
EBITDA	-154.56M	-110.30M	-66.25M	-49.29M	-45.56M	-32.98M
Net Income	-158.52M	-115.86M	-67.67M	-52.98M	-46.29M	-33.34M
Balance Sheet
Total Assets	189.76M	185.05M	253.65M	116.97M	126.34M	114.72M
Cash, Cash Equivalents and Short-Term Investments	159.93M	163.96M	241.25M	106.55M	122.22M	108.66M
Total Debt	25.78M	15.60M	5.02M	5.14M	0.00	0.00
Total Liabilities	50.29M	32.71M	17.45M	12.45M	8.38M	5.18M
Stockholders Equity	139.47M	152.34M	236.20M	104.52M	117.96M	109.54M
Cash Flow
Free Cash Flow	-120.26M	-90.43M	-54.24M	-48.83M	-35.27M	-27.41M
Operating Cash Flow	-118.86M	-88.22M	-53.55M	-46.38M	-34.11M	-26.77M
Investing Cash Flow	-87.94M	47.29M	-22.45M	-27.22M	6.00M	-7.98M
Financing Cash Flow	96.39M	11.68M	187.63M	32.98M	48.90M	-24.00K

Cabaletta Bio Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.51
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CABA, the sentiment is Positive. The current price of 2.51 is above the 20-day moving average (MA) of 2.48, above the 50-day MA of 2.39, and above the 200-day MA of 2.03, indicating a bullish trend. The MACD of 0.09 indicates Positive momentum. The RSI at 50.26 is Neutral, neither overbought nor oversold. The STOCH value of 18.62 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CABA.

Cabaletta Bio Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BDTX	59 Neutral	$136.17M	6.59	19.23%	―	―	―
AVIR	58 Neutral	$320.32M	-2.31	-37.98%	―	―	14.33%
TRDA	52 Neutral	$413.53M	-4.32	-27.11%	―	-71.42%	-248.91%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CABA	50 Neutral	$241.63M	-0.99	-101.06%	―	―	-17.21%
CRBU	47 Neutral	$151.42M	-0.95	-74.28%	―	-19.00%	-2.72%
TNXP	43 Neutral	$207.68M	-0.02	-64.99%	―	-8.79%	81.36%

Cabaletta Bio Corporate Events

Cabaletta Bio Sets 2026 Strategy for Rese-cel Expansion

On January 12, 2026, Cabaletta Bio outlined its 2026 strategic priorities centered on advancing rese-cel toward registration in myositis and broadening its autoimmune pipeline. The company is actively enrolling a 17‑patient FDA-aligned registrational cohort in dermatomyositis and antisynthetase syndrome, building on 2025 Phase 1/2 data and targeting its first biologics license application for rese-cel in myositis next year, while also securing FDA alignment on small single‑arm registrational cohorts in systemic lupus erythematosus and lupus nephritis and obtaining RMAT designation in systemic sclerosis as it works toward additional registrational designs in scleroderma and myasthenia gravis. Operationally, Cabaletta has gained clearance to use Cellares’ fully automated Cell Shuttle platform to manufacture rese-cel—described as a first for an autologous CAR T program—with clinical manufacturing data expected in the first half of 2026 to confirm GMP and supply chain readiness, a move that could materially lower costs and support global scale if the therapy is approved. Clinically, the company is pushing to expand rese-cel’s use without preconditioning, escalating doses in pemphigus vulgaris and adding a no‑preconditioning cohort in lupus, and expects complete Phase 1/2 data in lupus, systemic sclerosis and myasthenia gravis in the first half of 2026, milestones that will be closely watched by regulators, investors and potential commercial partners as Cabaletta positions rese-cel as a potentially outpatient, industry‑leading cell therapy for autoimmune disease.

The most recent analyst rating on (CABA) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Cabaletta Bio stock, see the CABA Stock Forecast page.