Cabaletta Bio (NASDAQ:CABA) Issues Earnings Results

Cabaletta Bio (NASDAQ:CABA) issued its quarterly earnings data on Monday. The company reported ($0.65) EPS for the quarter, hitting the consensus estimate of ($0.65), Zacks reports.

Cabaletta Bio Stock Performance

CABA stock opened at $1.39 on Tuesday. The firm has a fifty day moving average price of $2.09 and a 200 day moving average price of $2.95. Cabaletta Bio has a fifty-two week low of $1.36 and a fifty-two week high of $19.04. The firm has a market cap of $67.69 million, a PE ratio of -0.64 and a beta of 2.58.

Analyst Ratings Changes

CABA has been the topic of several recent research reports. Wells Fargo & Company downgraded Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $12.00 to $6.00 in a research note on Thursday, December 19th. Evercore ISI downgraded Cabaletta Bio from an “outperform” rating to an “inline” rating and dropped their target price for the stock from $15.00 to $6.00 in a report on Friday, December 20th. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Cabaletta Bio in a report on Tuesday. Finally, Morgan Stanley dropped their price target on shares of Cabaletta Bio from $30.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cabaletta Bio has an average rating of “Buy” and an average price target of $22.63.

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.