Cabaletta Bio (NASDAQ:CABA) Issues Earnings Results, Beats Expectations By $0.08 EPS

Cabaletta Bio (NASDAQ:CABA) posted its quarterly earnings data on Monday. The company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08, Zacks reports.

Cabaletta Bio Stock Performance

NASDAQ:CABA traded down $0.12 on Monday, hitting $2.43. 4,158,746 shares of the stock were exchanged, compared to its average volume of 2,212,022. Cabaletta Bio has a 52 week low of $0.99 and a 52 week high of $5.46. The stock has a market capitalization of $222.25 million, a price-to-earnings ratio of -0.90 and a beta of 3.10. The company’s 50-day moving average price is $2.34 and its 200 day moving average price is $1.89.

Hedge Funds Weigh In On Cabaletta Bio

Several large investors have recently bought and sold shares of the business. Comerica Bank grew its holdings in Cabaletta Bio by 2,292.1% during the 1st quarter. Comerica Bank now owns 41,599 shares of the company’s stock worth $58,000 after acquiring an additional 39,860 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Cabaletta Bio by 695.6% during the second quarter. Tower Research Capital LLC TRC now owns 51,036 shares of the company’s stock worth $78,000 after purchasing an additional 44,621 shares during the period. Invesco Ltd. increased its holdings in Cabaletta Bio by 357.1% in the first quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock valued at $85,000 after purchasing an additional 48,181 shares during the last quarter. AQR Capital Management LLC bought a new stake in Cabaletta Bio in the first quarter valued at about $102,000. Finally, XTX Topco Ltd acquired a new position in Cabaletta Bio in the second quarter valued at about $148,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CABA shares. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Cabaletta Bio in a research report on Friday, October 10th. Cantor Fitzgerald lifted their target price on shares of Cabaletta Bio from $15.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Jefferies Financial Group initiated coverage on shares of Cabaletta Bio in a report on Friday, October 10th. They issued a “buy” rating and a $14.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.11.

Cabaletta Bio Company Profile

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. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.