Cabaletta Bio (NASDAQ:CABA) Announces Quarterly Earnings Results

Cabaletta Bio (NASDAQ:CABA) issued its quarterly earnings data on Thursday. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.02, FiscalAI reports.

Cabaletta Bio Stock Up 0.6%

Shares of CABA traded up $0.02 during mid-day trading on Thursday, hitting $3.61. 3,273,166 shares of the company’s stock were exchanged, compared to its average volume of 4,766,477. Cabaletta Bio has a 52 week low of $1.26 and a 52 week high of $4.23. The stock’s 50-day simple moving average is $3.17 and its 200-day simple moving average is $2.76. The firm has a market cap of $401.87 million, a price-to-earnings ratio of -1.58 and a beta of 3.18.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CABA. Invesco Ltd. increased its holdings in shares of Cabaletta Bio by 357.1% during the first quarter. Invesco Ltd. now owns 61,675 shares of the company’s stock worth $85,000 after purchasing an additional 48,181 shares during the period. Comerica Bank increased its stake in Cabaletta Bio by 2,292.1% in the first quarter. Comerica Bank now owns 41,599 shares of the company’s stock valued at $58,000 after acquiring an additional 39,860 shares during the last quarter. AQR Capital Management LLC bought a new position in Cabaletta Bio in the first quarter valued at approximately $102,000. XTX Topco Ltd bought a new position in Cabaletta Bio in the second quarter valued at approximately $148,000. Finally, Marshall Wace LLP increased its stake in Cabaletta Bio by 470.7% in the second quarter. Marshall Wace LLP now owns 190,957 shares of the company’s stock valued at $290,000 after acquiring an additional 157,497 shares during the last quarter.

Analyst Ratings Changes

CABA has been the subject of several research reports. Wall Street Zen downgraded shares of Cabaletta Bio from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research report on Monday, April 20th. Morgan Stanley cut their price objective on shares of Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Guggenheim raised their price objective on shares of Cabaletta Bio from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Cabaletta Bio in a research report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Cabaletta Bio has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Cabaletta Bio Company Profile

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.