Cabaletta Bio (NASDAQ:CABA) Releases Earnings Results, Beats Estimates By $0.05 EPS

Cabaletta Bio (NASDAQ:CABA) announced its quarterly earnings data on Monday. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.05, Zacks reports.

Cabaletta Bio Stock Performance

CABA opened at $2.47 on Wednesday. Cabaletta Bio has a 1 year low of $0.99 and a 1 year high of $5.46. The firm has a 50 day moving average price of $2.38 and a 200 day moving average price of $1.91. The company has a market cap of $225.91 million, a PE ratio of -0.98 and a beta of 3.10.

Institutional Investors Weigh In On Cabaletta Bio

Several large investors have recently made changes to their positions in CABA. Comerica Bank boosted its position 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 purchasing an additional 39,860 shares during the period. Tower Research Capital LLC TRC lifted 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 in the last quarter. Invesco Ltd. boosted its position in shares of Cabaletta Bio by 357.1% in the first quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock worth $85,000 after buying an additional 48,181 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Cabaletta Bio in the first quarter worth about $102,000. Finally, XTX Topco Ltd acquired a new stake in shares of Cabaletta Bio in the second quarter valued at about $148,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CABA. Cantor Fitzgerald boosted their price target on Cabaletta Bio from $15.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Jefferies Financial Group started coverage on Cabaletta Bio in a research report on Friday, October 10th. They issued a “buy” rating and a $14.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Wednesday, October 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Cabaletta Bio in a research note on Friday, October 10th. One research 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 issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.