Cabaletta Bio (NASDAQ:CABA) Issues Earnings Results, Beats Estimates By $0.04 EPS

Cabaletta Bio (NASDAQ:CABA) announced its quarterly earnings results on Thursday. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.04, FiscalAI reports.

Cabaletta Bio Trading Up 1.6%

CABA stock traded up $0.02 during trading on Friday, hitting $1.30. The stock had a trading volume of 2,997,885 shares, compared to its average volume of 4,904,986. The company’s 50 day moving average price is $2.12 and its two-hundred day moving average price is $2.82. Cabaletta Bio has a 1-year low of $1.18 and a 1-year high of $4.23.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CABA shares. William Blair raised shares of Cabaletta Bio to a “strong-buy” rating in a report on Wednesday, September 23rd. TD Cowen raised Cabaletta Bio to a “strong-buy” rating in a research report on Monday, August 24th. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Cabaletta Bio in a research note on Tuesday, September 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Thursday, October 15th. Finally, Wall Street Zen lowered shares of Cabaletta Bio from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.60.

Cabaletta Bio Company Profile

Cabaletta Bio, Inc is a clinical-stage biotechnology company focused on developing engineered T-cell therapies for patients with B cell-mediated autoimmune diseases. The company’s approach is designed to selectively eliminate disease-causing immune cells and potentially provide durable disease remission rather than relying on continuous immunosuppression.

Its lead investigational product, CABA-201, is an autologous, fully human CD19 chimeric antigen receptor T-cell therapy designed to target and eliminate CD19-positive B cells.