Cabaletta Bio (NASDAQ:CABA) Announces Earnings Results, Beats Estimates By $0.08 EPS

Cabaletta Bio (NASDAQ:CABA – Get Rating) announced its quarterly earnings data on Thursday. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.08, MarketWatch Earnings reports.

NASDAQ:CABA traded up $0.17 during midday trading on Friday, reaching $1.49. 118,402 shares of the company traded hands, compared to its average volume of 172,872. Cabaletta Bio has a twelve month low of $1.17 and a twelve month high of $14.95. The company has a fifty day moving average price of $1.74 and a 200 day moving average price of $4.84.

A number of large investors have recently added to or reduced their stakes in CABA. Bank of New York Mellon Corp boosted its position in Cabaletta Bio by 120.2% during the 1st quarter. Bank of New York Mellon Corp now owns 22,674 shares of the company’s stock valued at $46,000 after purchasing an additional 12,379 shares during the period. Walleye Trading LLC bought a new stake in Cabaletta Bio during the 4th quarter valued at $87,000. Cubist Systematic Strategies LLC raised its stake in Cabaletta Bio by 112.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 22,880 shares of the company’s stock valued at $87,000 after acquiring an additional 12,106 shares in the last quarter. Northern Trust Corp raised its stake in Cabaletta Bio by 17.4% during the 4th quarter. Northern Trust Corp now owns 29,307 shares of the company’s stock valued at $111,000 after acquiring an additional 4,337 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in Cabaletta Bio during the 4th quarter valued at $151,000. Institutional investors and hedge funds own 62.75% of the company’s stock.

Several analysts have recently issued reports on the company. Mizuho reduced their price objective on Cabaletta Bio from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, March 18th. HC Wainwright dropped their target price on Cabaletta Bio from $22.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, March 18th. Finally, Zacks Investment Research lowered Cabaletta Bio from a “buy” rating to a “hold” rating in a research note on Tuesday, February 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.88.

Cabaletta Bio Company Profile (Get Rating)

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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