Cabaletta Bio (NASDAQ:CABA) Announces Quarterly Earnings Results

Cabaletta Bio (NASDAQ:CABA) announced its quarterly earnings results on Thursday. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04, FiscalAI reports.

Cabaletta Bio Trading Up 1.6%

NASDAQ:CABA traded up $0.02 during midday trading on Friday, reaching $1.30. The company had a trading volume of 2,997,885 shares, compared to its average volume of 4,904,986. Cabaletta Bio has a 12-month low of $1.18 and a 12-month high of $4.23. The stock’s fifty day simple moving average is $2.12 and its 200-day simple moving average is $2.82.

Wall Street Analyst Weigh In

CABA has been the topic of several recent analyst reports. TD Cowen upgraded shares of Cabaletta Bio to a “strong-buy” rating in a report on Monday, August 24th. William Blair upgraded shares of Cabaletta Bio to a “strong-buy” rating in a report on Wednesday, September 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Thursday, October 15th. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Cabaletta Bio in a research note on Tuesday, September 1st. Finally, Wall Street Zen lowered Cabaletta Bio from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 17th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cabaletta Bio currently has an average rating of “Moderate Buy” and a consensus target price of $15.60.

About Cabaletta Bio

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with B cell-mediated autoimmune diseases. The company’s approach is designed to selectively eliminate disease-causing immune cells and potentially provide durable disease remission rather than relying on continuous immunosuppression.

Its lead investigational product, CABA-201, is an autologous, fully human CD19 chimeric antigen receptor T-cell therapy designed to target and eliminate CD19-positive B cells.