Symbols / CABA $2.96 +10.45% Cabaletta Bio, Inc.

Healthcare • Biotechnology • United States • NMS
CABA Chart
About

Cabaletta Bio, Inc., a clinical-stage biotechnology company, focuses on the discovery and development of engineered T cell therapies for patients with autoimmune diseases. Its lead product candidate is resecabtagene autoleucel, a 4-1BB co-stimulatory domain-containing fully human CD19-CAR T, which is in Phase 1/2 clinical trials for the treatment of dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, juvenile myositis, lupus nephritis, non-renal systemic lupus erythematosus, relapsing and progressive multiple sclerosis, mucocutaneous and mucosal pemphigus vulgaris (PV), systemic sclerosis, and generalized myasthenia gravis. The company also develops DSG3-CAART, a CAAR T cell therapy that is in Phase 1 clinical trial for the treatment of mucosal PV; and MuSK-CAART, an investigational cell therapy in Phase 1 trial for treating patients with anti-muscle-specific kinase (MuSK) antibody positive myasthenia gravis. It has collaborations with the University of Pennsylvania and the Children's Hospital of Philadelphia; Nanjing IASO Biotherapeutics Co., Ltd; Oxford Biomedica; Autolus Holdings (UK) Limited; and WuXi Advanced Therapies, Inc. 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.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Biotechnology Market Cap 329.52M
Enterprise Value 223.01M Income -167.86M Sales —
Book/sh 1.11 Cash/sh 1.20 Dividend Yield —
Payout 0.00% Employees 154 IPO —
P/E — Forward P/E -2.02 PEG —
P/S — P/B 2.65 P/C —
EV/EBITDA -1.31 EV/Sales — Quick Ratio 2.66
Current Ratio 2.77 Debt/Eq 24.18 LT Debt/Eq —
EPS (ttm) -2.10 EPS next Y -1.46 EPS Growth —
Revenue Growth — Earnings 2026-05-14 ROA -61.49%
ROE -126.98% ROIC — Gross Margin 0.00%
Oper. Margin 0.00% Profit Margin 0.00% Shs Outstand 111.32M
Shs Float 91.17M Short Float 19.26% Short Ratio 7.01
Short Interest — 52W High 3.78 52W Low 0.99
Beta 3.29 Avg Volume 3.06M Volume 2.11M
Target Price $13.12 Recom Buy Prev Close $2.68
Price $2.96 Change 10.45%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$13.13
Mean price target
2. Current target
$2.96
Latest analyst target
3. DCF / Fair value
$-13.14
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$2.96
Low
$2.00
High
$30.00
Mean
$13.13

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-24 main Morgan Stanley Overweight → Overweight $13
2026-03-24 main Guggenheim Buy → Buy $16
2025-10-31 main Cantor Fitzgerald Overweight → Overweight $30
2025-10-10 reit HC Wainwright & Co. Buy → Buy $16
2025-09-05 reit Cantor Fitzgerald Overweight → Overweight $15
2025-08-14 main Citigroup Buy → Buy $10
2025-08-08 main Wells Fargo Equal-Weight → Equal-Weight $2
2025-08-08 main Guggenheim Buy → Buy $15
2025-06-11 reit HC Wainwright & Co. Buy → Buy $25
2025-05-16 main Citigroup Buy → Buy $13
2025-05-16 main Guggenheim Buy → Buy $25
2025-05-15 main Guggenheim Buy → Buy $25
2025-04-01 main Wells Fargo Equal-Weight → Equal-Weight $3
2025-04-01 reit Guggenheim Buy → Buy $23
2025-04-01 main UBS Buy → Buy $7
2025-04-01 main Morgan Stanley Overweight → Overweight $22
2025-04-01 reit HC Wainwright & Co. Buy → Buy $25
2025-02-18 reit HC Wainwright & Co. Buy → Buy $25
2025-01-17 reit HC Wainwright & Co. Buy → Buy $25
2024-12-20 down Evercore ISI Group Outperform → In-Line $6
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-01-21 SIMON MARK Director — 11,061 $2.28 $25,261
2026-01-21 NICHTBERGER STEVEN Chief Executive Officer — 45,000 $2.24 $100,778
2026-01-21 TOMASELLO SHAWN CLINE Director — 22,725 $2.21 $50,322
2026-01-21 CHANG DAVID J. M.D. Officer — 8,800 $2.26 $19,888
2026-01-21 BOLLARD CATHERINE M.D. Director — 4,405 $2.27 $9,982
2026-01-21 BINDER GWENDOLYN Officer — 11,312 $2.19 $24,763
2026-01-21 GERARD MICHAEL General Counsel — 6,600 $2.27 $14,979
2026-01-21 GAVEL STEVE Officer — 22,170 $2.26 $50,215
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
0.00
0.00
0.00
0.00
Operating Revenue
0.00
0.00
0.00
0.00
Operating Expense
172.24
+37.64%
125.14
+67.61%
74.66
+37.90%
54.14
Research And Development
142.67
+46.78%
97.20
+75.38%
55.42
+41.03%
39.30
Selling General And Administration
29.57
+5.83%
27.94
+45.24%
19.24
+29.63%
14.84
General And Administrative Expense
29.57
+5.83%
27.94
+45.24%
19.24
+29.63%
14.84
Other Gand A
29.57
+5.83%
27.94
+45.24%
19.24
+29.63%
14.84
Total Expenses
172.24
+37.64%
125.14
+67.61%
74.66
+37.90%
54.14
Operating Income
-172.24
-37.64%
-125.14
-67.61%
-74.66
-37.90%
-54.14
Total Operating Income As Reported
-172.24
-37.64%
-125.14
-67.61%
-74.66
-37.90%
-54.14
EBITDA
-164.21
-44.80%
-113.41
-71.18%
-66.25
-25.09%
-52.96
Normalized EBITDA
-164.21
-44.80%
-113.41
-71.18%
-66.25
-25.09%
-52.96
Reconciled Depreciation
1.65
-3.80%
1.71
+19.99%
1.43
+21.05%
1.18
EBIT
-165.85
-44.07%
-115.12
-70.10%
-67.67
-25.00%
-54.14
Net Income
-167.86
-44.87%
-115.86
-71.21%
-67.67
-27.75%
-52.98
Pretax Income
-167.86
-44.87%
-115.86
-71.21%
-67.67
-27.75%
-52.98
Net Non Operating Interest Income Expense
4.03
-56.59%
9.28
+32.81%
6.99
+500.09%
1.16
Interest Expense Non Operating
2.00
+167.91%
0.75
0.00
—
Net Interest Income
4.03
-56.59%
9.28
+32.81%
6.99
+500.09%
1.16
Interest Expense
2.00
+167.91%
0.75
0.00
—
Interest Income Non Operating
6.03
-39.84%
10.03
+43.52%
6.99
+500.09%
1.16
Interest Income
6.03
-39.84%
10.03
+43.52%
6.99
+500.09%
1.16
Other Income Expense
0.36
—
—
—
Other Non Operating Income Expenses
0.36
—
—
—
Tax Rate For Calcs
0.00
0.00
0.00
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-167.86
-44.87%
-115.86
-71.21%
-67.67
-27.75%
-52.98
Net Income From Continuing Operation Net Minority Interest
-167.86
-44.87%
-115.86
-71.21%
-67.67
-27.75%
-52.98
Net Income From Continuing And Discontinued Operation
-167.86
-44.87%
-115.86
-71.21%
-67.67
-27.75%
-52.98
Net Income Continuous Operations
-167.86
-44.87%
-115.86
-71.21%
-67.67
-27.75%
-52.98
Normalized Income
-167.86
-44.87%
-115.86
-71.21%
-67.67
-27.75%
-52.98
Net Income Common Stockholders
-167.86
-44.87%
-115.86
-71.21%
-67.67
-27.75%
-52.98
Diluted EPS
—
-2.34
-41.82%
-1.65
+8.84%
-1.81
Basic EPS
—
-2.34
-41.82%
-1.65
+8.84%
-1.81
Basic Average Shares
—
49.51
+26.34%
39.19
+33.91%
29.27
Diluted Average Shares
—
49.51
+20.93%
40.95
+39.90%
29.27
Diluted NI Availto Com Stockholders
-167.86
-44.87%
-115.86
-71.21%
-67.67
-27.75%
-52.98
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
165.08
-10.79%
185.05
-27.05%
253.65
+116.85%
116.97
Current Assets
138.87
-16.68%
166.68
-31.83%
244.49
+124.64%
108.83
Cash Cash Equivalents And Short Term Investments
133.60
-18.52%
163.96
-32.04%
241.25
+126.42%
106.55
Cash And Cash Equivalents
82.98
-49.39%
163.96
-15.15%
193.24
+136.79%
81.61
Cash Equivalents
81.47
—
192.50
+135.88%
81.61
Cash Financial
1.51
—
0.74
—
Other Short Term Investments
50.62
0.00
-100.00%
48.01
+92.51%
24.94
Prepaid Assets
—
—
—
—
Other Current Assets
5.27
+94.32%
2.71
-16.29%
3.24
+41.71%
2.29
Total Non Current Assets
26.21
+42.68%
18.37
+100.56%
9.16
+12.61%
8.13
Net PPE
21.05
+30.94%
16.08
+115.78%
7.45
-1.56%
7.57
Gross PPE
28.20
+30.68%
21.58
+91.93%
11.25
+13.16%
9.94
Accumulated Depreciation
-7.15
-29.89%
-5.51
-45.09%
-3.79
-60.19%
-2.37
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
0.47
+0.00%
0.47
+43.33%
0.33
+0.00%
0.33
Other Properties
27.62
+31.53%
21.00
+94.37%
10.80
+13.78%
9.49
Leases
0.11
+0.00%
0.11
+0.00%
0.11
+0.00%
0.11
Other Non Current Assets
5.16
+124.99%
2.29
+34.17%
1.71
+202.48%
0.56
Total Liabilities Net Minority Interest
53.03
+62.12%
32.71
+87.43%
17.45
+40.20%
12.45
Current Liabilities
50.15
+85.16%
27.09
+69.35%
15.99
+68.55%
9.49
Payables And Accrued Expenses
16.14
+84.31%
8.76
+21.71%
7.19
+91.53%
3.76
Payables
6.64
+34.80%
4.92
+8.27%
4.55
+84.61%
2.46
Accounts Payable
6.64
+34.80%
4.92
+8.27%
4.55
+84.61%
2.46
Current Accrued Expenses
9.50
+147.90%
3.83
+44.81%
2.65
+104.72%
1.29
Pensionand Other Post Retirement Benefit Plans Current
9.72
+16.85%
8.31
+59.90%
5.20
+47.94%
3.52
Current Debt And Capital Lease Obligation
24.22
+142.80%
9.97
+180.20%
3.56
+63.38%
2.18
Current Capital Lease Obligation
24.22
+142.80%
9.97
+180.20%
3.56
+63.38%
2.18
Other Current Liabilities
0.08
+100.00%
0.04
+0.00%
0.04
+2.56%
0.04
Total Non Current Liabilities Net Minority Interest
2.88
-48.82%
5.62
+285.80%
1.46
-50.73%
2.96
Long Term Debt And Capital Lease Obligation
2.88
-48.82%
5.62
+285.80%
1.46
-50.73%
2.96
Long Term Capital Lease Obligation
2.88
-48.82%
5.62
+285.80%
1.46
-50.73%
2.96
Stockholders Equity
112.05
-26.44%
152.34
-35.51%
236.20
+125.98%
104.52
Common Stock Equity
112.05
-26.44%
152.33
-35.51%
236.20
+125.98%
104.52
Capital Stock
0.00
+0.00%
0.00
0.00
0.00
Common Stock
0.00
0.00
0.00
0.00
Preferred Stock
0.00
+0.00%
0.00
0.00
0.00
Share Issued
100.48
+98.02%
50.74
+9.41%
46.38
+57.51%
29.45
Ordinary Shares Number
100.48
+98.02%
50.74
+9.41%
46.38
+57.51%
29.45
Additional Paid In Capital
628.98
+25.44%
501.44
+6.83%
469.40
+73.77%
270.13
Retained Earnings
-516.96
-48.08%
-349.10
-49.68%
-233.24
-40.88%
-165.56
Gains Losses Not Affecting Retained Earnings
0.03
0.00
-100.00%
0.04
+182.98%
-0.05
Other Equity Adjustments
0.03
—
0.04
+182.98%
-0.05
Total Equity Gross Minority Interest
112.05
-26.44%
152.34
-35.51%
236.20
+125.98%
104.52
Total Capitalization
112.05
-26.44%
152.34
-35.51%
236.20
+125.98%
104.52
Working Capital
88.72
-36.44%
139.59
-38.91%
228.50
+130.00%
99.34
Invested Capital
112.05
-26.44%
152.33
-35.51%
236.20
+125.98%
104.52
Total Debt
27.10
+73.71%
15.60
+210.88%
5.02
-2.34%
5.14
Capital Lease Obligations
27.10
+73.71%
15.60
+210.88%
5.02
-2.34%
5.14
Net Tangible Assets
112.05
-26.44%
152.34
-35.51%
236.20
+125.98%
104.52
Tangible Book Value
112.05
-26.44%
152.33
-35.51%
236.20
+125.98%
104.52
Preferred Stock Equity
0.00
+0.00%
0.00
—
—
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-131.08
-48.58%
-88.22
-64.75%
-53.55
-15.46%
-46.38
Cash Flow From Continuing Operating Activities
-131.08
-48.58%
-88.22
-64.75%
-53.55
-15.46%
-46.38
Net Income From Continuing Operations
-167.86
-44.87%
-115.86
-71.21%
-67.67
-27.75%
-52.98
Depreciation Amortization Depletion
1.65
-3.80%
1.71
+19.99%
1.43
+21.05%
1.18
Depreciation
1.65
-3.80%
1.71
+19.99%
1.43
+21.05%
1.18
Depreciation And Amortization
1.65
-3.80%
1.71
+19.99%
1.43
+21.05%
1.18
Other Non Cash Items
15.90
+150.59%
6.34
+156.05%
2.48
-18.54%
3.04
Stock Based Compensation
20.94
+7.57%
19.46
+71.60%
11.34
+64.46%
6.90
Operating Gains Losses
0.23
+492.11%
0.04
—
—
Net Foreign Currency Exchange Gain Loss
0.23
+492.11%
0.04
0.00
—
Change In Working Capital
-0.38
-123.53%
1.61
+1495.05%
0.10
+102.35%
-4.30
Change In Prepaid Assets
-2.56
-584.66%
0.53
+155.35%
-0.95
-3081.25%
0.03
Change In Payables And Accrued Expense
9.27
+87.03%
4.96
+6.51%
4.66
+483.76%
-1.21
Change In Accrued Expense
7.72
+95.67%
3.95
+32.45%
2.98
+351.48%
-1.19
Change In Payable
1.55
+53.31%
1.01
-39.64%
1.68
+6082.14%
-0.03
Change In Account Payable
1.55
+53.31%
1.01
-39.64%
1.68
+6082.14%
-0.03
Change In Other Current Assets
-2.87
-390.75%
-0.58
+48.95%
-1.14
-450.00%
-0.21
Change In Other Current Liabilities
-4.23
-28.44%
-3.29
-34.00%
-2.46
+15.60%
-2.91
Investing Cash Flow
-50.27
-206.30%
47.29
+310.63%
-22.45
+17.51%
-27.22
Cash Flow From Continuing Investing Activities
-50.27
-206.30%
47.29
+310.63%
-22.45
+17.51%
-27.22
Net PPE Purchase And Sale
-1.23
+44.41%
-2.21
-221.83%
-0.69
+71.99%
-2.45
Purchase Of PPE
-1.23
+44.41%
-2.21
-221.83%
-0.69
+71.99%
-2.45
Capital Expenditure
-1.23
+44.41%
-2.21
-221.83%
-0.69
+71.99%
-2.45
Net Investment Purchase And Sale
-49.04
-199.06%
49.50
+327.44%
-21.76
+12.11%
-24.76
Purchase Of Investment
-99.04
0.00
+100.00%
-84.26
-69.33%
-49.76
Sale Of Investment
50.00
+1.01%
49.50
-20.80%
62.50
+150.00%
25.00
Financing Cash Flow
100.35
+759.36%
11.68
-93.78%
187.63
+468.89%
32.98
Cash Flow From Continuing Financing Activities
100.35
+759.36%
11.68
-93.78%
187.63
+468.89%
32.98
Net Issuance Payments Of Debt
-6.26
-597.99%
-0.90
0.00
—
Repayment Of Debt
-6.26
-597.99%
-0.90
0.00
—
Long Term Debt Payments
-6.26
-597.99%
-0.90
0.00
—
Net Long Term Debt Issuance
-6.26
-597.99%
-0.90
0.00
—
Net Common Stock Issuance
106.30
+877.50%
10.88
-94.13%
185.20
+463.70%
32.85
Proceeds From Stock Option Exercised
0.30
-82.05%
1.70
-30.05%
2.43
+1812.60%
0.13
Changes In Cash
-81.00
-176.86%
-29.26
-126.21%
111.63
+374.85%
-40.62
Effect Of Exchange Rate Changes
0.02
+195.00%
-0.02
0.00
—
Beginning Cash Position
163.96
-15.15%
193.24
+136.79%
81.61
-33.23%
122.22
End Cash Position
82.98
-49.39%
163.96
-15.15%
193.24
+136.79%
81.61
Free Cash Flow
-132.31
-46.31%
-90.43
-66.74%
-54.24
-11.06%
-48.83
Interest Paid Supplemental Data
1.71
+129.01%
0.75
0.00
—
Amortization Of Securities
-1.55
-1.77%
-1.53
-25.04%
-1.22
-447.98%
-0.22
Change In Interest Payable
0.29
0.00
—
—
Common Stock Issuance
106.30
+877.50%
10.88
-94.13%
185.20
+463.70%
32.85
Issuance Of Capital Stock
106.30
+877.50%
10.88
-94.13%
185.20
+463.70%
32.85
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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