Cabaletta Bio (NASDAQ:CABA) Posts Earnings Results, Beats Expectations By $0.02 EPS

Cabaletta Bio (NASDAQ:CABA) posted its earnings results on Thursday. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02, FiscalAI reports.

Cabaletta Bio Trading Down 8.3%

Shares of CABA stock traded down $0.30 during trading hours on Friday, hitting $3.31. 3,190,956 shares of the company were exchanged, compared to its average volume of 4,840,762. The firm has a fifty day simple moving average of $3.17 and a 200 day simple moving average of $2.76. Cabaletta Bio has a 52-week low of $1.26 and a 52-week high of $4.23. The stock has a market capitalization of $368.47 million, a price-to-earnings ratio of -1.69 and a beta of 3.18.

Wall Street Analysts Forecast Growth

CABA has been the topic of a number of analyst reports. Guggenheim upped their target price on shares of Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Wells Fargo & Company increased their price objective on shares of Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a research note on Friday. Morgan Stanley decreased their price objective on shares of Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Cabaletta Bio in a research note on Monday, May 4th. Finally, Wall Street Zen lowered shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Institutional Investors Weigh In On Cabaletta Bio

Large investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Cabaletta Bio during the 4th quarter worth approximately $58,000. Comerica Bank increased its stake in shares of 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 purchasing an additional 39,860 shares during the last quarter. LPL Financial LLC purchased a new stake in shares of Cabaletta Bio during the 4th quarter worth approximately $93,000. Tower Research Capital LLC TRC increased its stake in shares of Cabaletta Bio by 695.6% during the 2nd 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 last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Cabaletta Bio in the 4th quarter worth approximately $113,000.

Cabaletta Bio Company Profile

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.