Cabaletta Bio (NASDAQ:CABA) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Cabaletta Bio (NASDAQ:CABA) posted its quarterly earnings data on Thursday. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01), Zacks reports.

Cabaletta Bio Trading Up 3.7 %

Shares of Cabaletta Bio stock traded up $0.15 during trading on Friday, hitting $4.16. 3,036,164 shares of the stock traded hands, compared to its average volume of 1,141,895. The stock’s fifty day simple moving average is $8.04 and its 200 day simple moving average is $14.18. The firm has a market cap of $200.83 million, a P/E ratio of -2.43 and a beta of 2.42. Cabaletta Bio has a 52-week low of $3.47 and a 52-week high of $26.35.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $50.00 price target on shares of Cabaletta Bio in a research note on Friday, June 21st. HC Wainwright reduced their target price on Cabaletta Bio from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $32.00 target price on shares of Cabaletta Bio in a research note on Monday, June 17th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $33.89.

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.