Cabaletta Bio (NASDAQ:CABA) issued its quarterly earnings results on Sunday. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.05, MarketWatch Earnings reports.
Shares of NASDAQ CABA traded down $0.33 during trading on Tuesday, hitting $10.39. 445,218 shares of the company were exchanged, compared to its average volume of 111,678. Cabaletta Bio has a 1 year low of $6.35 and a 1 year high of $16.38. The company has a market cap of $209.30 million, a price-to-earnings ratio of -7.58 and a beta of 1.67. The firm’s fifty day moving average price is $11.07 and its 200 day moving average price is $12.48.
Several research analysts have weighed in on the company. Chardan Capital reiterated a “buy” rating and issued a $21.00 target price on shares of Cabaletta Bio in a research note on Friday, January 8th. Zacks Investment Research lowered shares of Cabaletta Bio from a “buy” rating to a “hold” rating in a research report on Monday, January 4th. Finally, HC Wainwright upped their price objective on shares of Cabaletta Bio from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, March 23rd.
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. Its proprietary technology utilizes chimeric autoantibody receptor (CAAR) T cells that are designed to selectively bind and eliminate B cells, which produce disease-causing autoantibodies or pathogenic B cells.
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