Cabaletta Bio (NASDAQ:CABA) Posts Earnings Results, Meets Expectations

Cabaletta Bio (NASDAQ:CABA) announced its earnings results on Monday. The company reported ($0.65) earnings per share for the quarter, hitting the consensus estimate of ($0.65), Zacks reports.

Cabaletta Bio Price Performance

NASDAQ CABA opened at $1.39 on Tuesday. The business has a 50 day moving average price of $2.09 and a 200 day moving average price of $2.95. The company has a market capitalization of $67.69 million, a P/E ratio of -0.64 and a beta of 2.58. Cabaletta Bio has a 1-year low of $1.36 and a 1-year high of $19.04.

Wall Street Analyst Weigh In

CABA has been the subject of a number of recent research reports. Evercore ISI cut Cabaletta Bio from an “outperform” rating to an “inline” rating and decreased their price objective for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Cabaletta Bio in a research note on Tuesday. Finally, Wells Fargo & Company lowered shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $12.00 to $6.00 in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $22.71.

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.