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

Cabaletta Bio (NASDAQ:CABA) posted 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 Stock Down 7.8%

Shares of NASDAQ CABA opened at $2.47 on Tuesday. The stock’s fifty day simple moving average is $2.92 and its 200 day simple moving average is $2.57. The stock has a market capitalization of $274.96 million, a price-to-earnings ratio of -1.08 and a beta of 3.24. Cabaletta Bio has a 52-week low of $0.99 and a 52-week high of $3.78.

Insider Buying and Selling

In related news, CEO Steven Nichtberger purchased 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 21st. The shares were purchased 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 $2,310,521.92. This trade represents a 4.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark Simon acquired 11,061 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were bought at an average price of $2.28 per share, for a total transaction of $25,219.08. Following the acquisition, the director owned 147,205 shares in the company, valued at approximately $335,627.40. This trade represents a 8.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 127,668 shares of company stock valued at $286,211. 11.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. raised its holdings in shares of Cabaletta Bio by 142.9% during the second quarter. Adage Capital Partners GP L.L.C. now owns 8,829,758 shares of the company’s stock valued at $13,421,000 after acquiring an additional 5,195,285 shares during the period. Millennium Management LLC lifted its position in shares of Cabaletta Bio by 298.5% in the 4th quarter. Millennium Management LLC now owns 2,736,912 shares of the company’s stock valued at $5,994,000 after acquiring an additional 2,050,099 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Cabaletta Bio by 17.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock worth $21,590,000 after purchasing an additional 1,495,768 shares during the period. Woodline Partners LP boosted its stake in Cabaletta Bio by 75.2% in the 3rd quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock worth $4,997,000 after purchasing an additional 916,884 shares during the period. Finally, Ikarian Capital LLC purchased a new position in Cabaletta Bio during the 4th quarter worth approximately $1,971,000.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cabaletta Bio in a research note on Wednesday, January 21st. Morgan Stanley cut their price target on shares of Cabaletta Bio from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Guggenheim raised their price objective on shares of Cabaletta Bio from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Wall Street Zen raised shares of Cabaletta Bio from a “strong sell” rating to a “hold” rating in a research note on Sunday. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

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.