<div id="readability-page-1"><p>Michael Ulz, an analyst from Morgan Stanley, maintained the Buy rating on Cabaletta Bio. The associated price target remains the same with $13.00.</p><h3>Claim 55% Off TipRanks</h3><ul><li>Unlock  hedge fund-level data  and  powerful investing tools  for smarter, sharper decisions  </li><li> Discover top-performing stock ideas and upgrade to a portfolio of market leaders with  Smart Investor Picks  </li></ul> <p>Michael Ulz has given his Buy rating due to a combination of factors tied to Cabaletta Bio’s emerging clinical profile and future catalysts. He highlights that new Phase 1/2 RESET-PV data show that rese-cel can induce meaningful biologic and clinical responses in pemphigus vulgaris patients even without preconditioning, with most patients discontinuing immunomodulators and steroids while maintaining complete B‑cell depletion in the majority and showing a clean safety profile, including no new CRS or ICANS events.</p> <p>Ulz also underscores that the company is now escalating to a higher dose cohort in RESET-PV, with durability data anticipated in the second half of 2026, and is preparing to release initial results from the RESET-SLE lupus study without preconditioning in the first half of 2026. He believes these upcoming readouts could validate rese-cel’s potential to remove the need for preconditioning, materially enhance the therapy’s overall risk‑benefit profile across multiple autoimmune indications, and support upside to the current valuation, justifying a Buy rating with an unchanged $13 price target.</p> <p>In another report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $30.00 price target.</p> </div>

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<p>Michael Ulz from Morgan Stanley has maintained a Buy rating on Cabaletta Bio with a price target of $13. The rating is supported by promising Phase 1/2 RESET-PV data indicating that rese-cel can effectively treat pemphigus vulgaris without preconditioning. Most patients have stopped using immunomodulators and steroids while maintaining B-cell depletion. Upcoming data from RESET-PV and RESET-SLE studies could further validate this approach, enhancing the therapy's risk-benefit profile. Cantor Fitzgerald also reaffirmed a Buy rating with a $30 price target.</p>

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MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

Cabaletta Bio Maintained at Buy as Emerging Rese-cel Data Support Preconditioning-Free Potential; $13 Price Target Reaffirmed