Cabaletta Bio (NASDAQ:CABA) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Cabaletta Bio (NASDAQ:CABA) released its quarterly earnings data on Monday. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.05, FiscalAI reports.

Cabaletta Bio Trading Up 8.9%

Shares of NASDAQ CABA opened at $2.69 on Wednesday. The stock has a fifty day moving average price of $2.93 and a 200 day moving average price of $2.58. Cabaletta Bio has a 12-month low of $0.99 and a 12-month high of $3.78. The company has a market cap of $299.45 million, a P/E ratio of -1.18 and a beta of 3.25.

Insider Buying and Selling

In related news, insider Steve Gavel acquired 22,170 shares of Cabaletta Bio stock in a transaction on Wednesday, January 21st. The shares were bought at an average price of $2.27 per share, for a total transaction of $50,325.90. Following the completion of the purchase, the insider directly owned 22,170 shares in the company, valued at $50,325.90. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Steven Nichtberger bought 45,000 shares of the stock in a transaction dated Wednesday, January 21st. The stock was bought at an average price of $2.24 per share, with a total value of $100,800.00. Following the purchase, the chief executive officer owned 1,031,483 shares of the company’s stock, valued at approximately $2,310,521.92. This represents a 4.56% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 127,668 shares of company stock worth $286,211. Company insiders own 11.25% of the company’s stock.

Institutional Investors Weigh In On Cabaletta Bio

A number of hedge funds have recently bought and sold shares of the business. Invesco Ltd. raised its position in shares of Cabaletta Bio by 54.1% in the 4th quarter. Invesco Ltd. now owns 189,195 shares of the company’s stock valued at $414,000 after purchasing an additional 66,395 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Cabaletta Bio by 1,156.3% during the 4th quarter. Squarepoint Ops LLC now owns 149,094 shares of the company’s stock valued at $327,000 after buying an additional 137,226 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Cabaletta Bio by 36.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 130,675 shares of the company’s stock worth $286,000 after buying an additional 35,000 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Cabaletta Bio in the fourth quarter worth $209,000. Finally, XTX Topco Ltd bought a new stake in shares of Cabaletta Bio in the second quarter worth $148,000.

Wall Street Analysts Forecast Growth

CABA has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Wall Street Zen upgraded Cabaletta Bio from a “strong sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st. Finally, Guggenheim boosted their target price on Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

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.