Cabaletta Bio (NASDAQ:CABA) Announces Quarterly Earnings Results

Cabaletta Bio (NASDAQ:CABA) posted its quarterly earnings data on Thursday. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.04, FiscalAI reports.

Cabaletta Bio Stock Performance

CABA traded up $0.02 during mid-day trading on Friday, reaching $1.30. The stock had a trading volume of 2,997,885 shares, compared to its average volume of 4,904,986. The firm’s fifty day simple moving average is $2.12 and its two-hundred day simple moving average is $2.82. The stock has a market capitalization of $220.40 million, a P/E ratio of -0.92 and a beta of 3.56. Cabaletta Bio has a 52 week low of $1.18 and a 52 week high of $4.23.

Analyst Ratings Changes

CABA has been the subject of a number of research analyst reports. William Blair raised Cabaletta Bio to a “strong-buy” rating in a report on Wednesday, September 23rd. Wells Fargo & Company decreased their price objective on shares of Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Thursday, October 15th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a research note on Tuesday, September 1st. Finally, TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.60.

About Cabaletta Bio

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with B cell-mediated autoimmune diseases. The company’s approach is designed to selectively eliminate disease-causing immune cells and potentially provide durable disease remission rather than relying on continuous immunosuppression.

Its lead investigational product, CABA-201, is an autologous, fully human CD19 chimeric antigen receptor T-cell therapy designed to target and eliminate CD19-positive B cells.