Cabaletta Bio (NASDAQ:CABA) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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

Cabaletta Bio Stock Up 1.6%

Shares of Cabaletta Bio stock traded up $0.02 during trading on Friday, reaching $1.30. The company’s stock had a trading volume of 2,997,885 shares, compared to its average volume of 4,904,986. Cabaletta Bio has a 52-week low of $1.18 and a 52-week high of $4.23. The firm’s 50-day moving average is $2.12 and its two-hundred day moving average is $2.82. The company has a market cap of $220.40 million, a price-to-earnings ratio of -0.92 and a beta of 3.56.

Wall Street Analysts Forecast Growth

CABA has been the topic of a number of research reports. William Blair upgraded Cabaletta Bio to a “strong-buy” rating in a research report on Wednesday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Cabaletta Bio in a research note on Tuesday, September 1st. Wall Street Zen upgraded Cabaletta Bio from a “strong sell” rating to a “sell” rating in a report on Saturday. TD Cowen upgraded Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th. Finally, Wells Fargo & Company decreased their price objective on Cabaletta Bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 14th. 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 stock. According to data from MarketBeat, the stock currently has a consensus 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.