Cabaletta Bio (NASDAQ:CABA) Issues Earnings Results, Beats Estimates By $0.03 EPS

Cabaletta Bio (NASDAQ:CABA) issued its quarterly earnings data on Thursday. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.03, FiscalAI reports.

Cabaletta Bio Stock Down 4.9%

CABA opened at $2.71 on Friday. Cabaletta Bio has a 52 week low of $1.40 and a 52 week high of $4.23. The business has a fifty day simple moving average of $2.90 and a 200-day simple moving average of $3.06. The firm has a market cap of $441.87 million, a P/E ratio of -1.38 and a beta of 3.30.

Institutional Trading of Cabaletta Bio

Hedge funds have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV acquired a new stake in Cabaletta Bio during the 4th quarter worth approximately $58,000. Comerica Bank raised its stake in shares of Cabaletta Bio by 2,292.1% in the first quarter. Comerica Bank now owns 41,599 shares of the company’s stock valued at $58,000 after acquiring an additional 39,860 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Cabaletta Bio in the fourth quarter valued at $93,000. Tower Research Capital LLC TRC boosted its holdings in Cabaletta Bio by 695.6% in the second quarter. Tower Research Capital LLC TRC now owns 51,036 shares of the company’s stock valued at $78,000 after purchasing an additional 44,621 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in Cabaletta Bio in the fourth quarter valued at $113,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Cabaletta Bio in a research note on Monday, May 4th. Wall Street Zen downgraded Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Jefferies Financial Group restated a “buy” rating on shares of Cabaletta Bio in a report on Wednesday, June 3rd. Wells Fargo & Company upped their target price on shares of Cabaletta Bio from $2.00 to $4.00 and gave the company an “equal weight” rating in a research report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Cabaletta Bio presently has an average rating of “Moderate Buy” and an average price target of $15.50.

About Cabaletta Bio

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company’s lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.