Cabaletta Bio (NASDAQ:CABA) Releases Earnings Results, Meets Estimates

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

Cabaletta Bio Price Performance

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CABA. Evercore ISI lowered shares of Cabaletta Bio from an “outperform” rating to an “inline” rating and reduced their price objective for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. HC Wainwright reissued a “buy” rating and set 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 decreased their price objective for the company from $12.00 to $6.00 in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cabaletta Bio has an average rating of “Buy” and a consensus price target of $22.71.

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.