UBS has lowered its price target for Cabaletta Bio Inc. to $7 from $10 while maintaining a Buy rating, following the company's fourth quarter 2024 earnings report. Despite a significant stock decline of over 90% in the past year, analysts remain optimistic, with targets ranging from $3 to $28. The recent report of a Grade 3 immune effector cell-associated neurotoxicity syndrome (ICANS) case in a clinical trial has raised safety concerns, but the trial will continue as the event was linked to a protocol deviation. Cabaletta Bio has implemented new precautions to mitigate future risks, and enrollment in its RESET trials has accelerated, with 21 patients now participating.