Cabaletta Bio (CABA) AI Stock Analysis

• Market Cap: $206.97M
• Dividend Yield: N/A
• Average Volume (3M): 1.78M
• Price to Earnings (P/E): ―
• Beta (1Y): 4.27
• 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: 0.51
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -59.54
• Enterprise Value/Ebitda: -0.68
• 1Y Price Target: $15.50
• Price Target Upside: 645.19% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $2.00 ▼(-3.85% Downside)

The score is primarily constrained by weak financial performance (no revenue, widening losses, and heavy cash burn implying funding risk). Technicals are also soft with negative MACD and price below key short/intermediate moving averages. Positive corporate events (encouraging clinical progress and manufacturing advances) provide some offset, but not enough to overcome the current financial and momentum headwinds.

Positive Factors

Broad, durable clinical responses across autoimmune indications

Consistent, transformative responses in Phase1/2 cohorts across myositis, systemic sclerosis, lupus and pemphigus suggest a reproducible biological effect. Durable multi‑indication efficacy raises probability of multiple registrational opportunities and supports long‑term commercial breadth.

Regulatory progress and RMAT designation

Formal FDA alignment on cohort designs plus an RMAT for systemic sclerosis materially lowers regulatory uncertainty and can accelerate development timelines and review. These designations strengthen the path to potential approvals and de‑risk interactions with regulators over months.

Automated, scalable manufacturing partnership with Cellares

Cleared use of an automated Cell Shuttle that showed engineering run consistency can reduce per‑patient cost, speed scale and enable global capacity without major capital build. If clinical manufacturing data in 1H26 validate consistency, this is a durable commercial and supply‑chain advantage.

Negative Factors

High cash burn and negative free cash flow

Sustained large operating and free cash outflows materially increase financing risk over the next 2–6 months if capital markets tighten. Ongoing burn pressures management to raise capital, which can dilute shareholders and constrain discretionary investment in trials or commercialization.

Pre-revenue profile with widening losses and shrinking equity

As a development‑stage, non‑revenue company with rapidly expanding losses and declining equity, Cabaletta remains reliant on external capital. Continued shareholder capital consumption raises dilution and funding uncertainty, which can impede long‑term development and commercialization plans.

Reliance on small, single‑arm registrational cohorts

Using small, single‑arm registrational cohorts increases regulatory and payer risk versus randomized trials: limited statistical power and lack of control arms can necessitate additional studies or post‑approval commitments, prolonging time to broad commercialization and reimbursement.

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

Cabaletta Bio faces significant challenges with no revenue generation and increasing net losses affecting its financial stability. While the balance sheet shows a reasonable level of equity, the company's reliance on external financing to cover operational costs presents a risk. The negative cash flow trends suggest financial pressure, and the company needs strategic interventions to achieve revenue growth and financial sustainability.

Income Statement

Cabaletta Bio has not generated any revenue over the analyzed period, heavily impacting its income statement metrics. The company has experienced increasing net losses, with the net income deteriorating from -$15.1 million in 2019 to -$115.9 million in 2024. The consistent lack of revenue coupled with increasing operating losses results in very low profitability scores.

Balance Sheet

The company maintains a relatively healthy balance sheet with a strong equity base and a low debt level, as seen in the debt-to-equity ratio remaining low due to minimal debt. However, the declining stockholders' equity from $138.3 million in 2019 to $152.3 million in 2024 indicates potential financial strain. The equity ratio remains strong, demonstrating reliance on equity financing.

Cash Flow

Operating cash flow has been consistently negative, and free cash flow growth has shown a negative trend, indicating cash burn over the years. Although financing activities have provided some cash inflows, the company remains highly dependent on external funding to sustain operations, which is a potential risk.

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: Negative
• Last Price: 2.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CABA, the sentiment is Negative. The current price of 2.08 is below the 20-day moving average (MA) of 2.21, below the 50-day MA of 2.33, and above the 200-day MA of 1.93, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 41.41 is Neutral, neither overbought nor oversold. The STOCH value of 46.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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	$158.96M	7.36	19.23%	―	―	―
AVIR	58 Neutral	$276.57M	-1.94	-37.98%	―	―	14.33%
TRDA	52 Neutral	$404.36M	-4.32	-27.11%	―	-71.42%	-248.91%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CRBU	47 Neutral	$150.48M	-0.92	-74.28%	―	-19.00%	-2.72%
CABA	46 Neutral	$206.97M	-0.82	-101.06%	―	―	-17.21%
TNXP	43 Neutral	$216.12M	-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.

Cabaletta Bio Updates on CD19-CAR T Therapy Progress

On October 29, 2025, Cabaletta Bio released an updated corporate presentation outlining their progress in developing rese-cel, a CD19-CAR T cell therapy for autoimmune diseases. The company plans to initiate a myositis registrational cohort in the fourth quarter of 2025 and has completed enrollment in Phase 1/2 trials for other conditions, highlighting their commitment to advancing clinical trials and potential market opportunities.

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.

Cabaletta Bio Announces Positive Clinical Data Updates

On October 27, 2025, Cabaletta Bio announced positive clinical data and development updates from its RESET-Myositis, RESET-SSc, and RESET-SLE trials at the ACR Convergence 2025. The trials evaluate rese-cel, a CAR T cell therapy, showing promising results in autoimmune diseases like myositis, systemic sclerosis, and lupus. The company is initiating a myositis registrational trial and expanding its RESET-SLE trial to include a no preconditioning cohort, with initial data expected in 2026. These developments could significantly impact treatment options for autoimmune diseases, offering potential drug-free clinical responses.

The most recent analyst rating on (CABA) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on Cabaletta Bio stock, see the CABA Stock Forecast page.