Cabaletta Bio (NASDAQ:CABA) Issues Quarterly Earnings Results

Cabaletta Bio (NASDAQ:CABA) issued its quarterly earnings data on Monday. The company reported ($0.65) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.65), Zacks reports.

Cabaletta Bio Price Performance

CABA stock opened at $1.39 on Tuesday. The company has a market capitalization of $67.69 million, a PE ratio of -0.64 and a beta of 2.58. Cabaletta Bio has a 12 month low of $1.36 and a 12 month high of $19.04. The firm’s 50-day moving average is $2.09 and its 200 day moving average is $2.95.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CABA shares. Wells Fargo & Company downgraded Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $12.00 to $6.00 in a research report on Thursday, December 19th. Morgan Stanley cut their price objective on shares of Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday. Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and lowered their target price for the stock from $15.00 to $6.00 in a report on Friday, December 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $22.63.

About Cabaletta Bio

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.