Cabaletta Bio (NASDAQ:CABA) Posts Earnings Results, Beats Expectations By $0.02 EPS

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

Cabaletta Bio Stock Performance

NASDAQ:CABA traded up $0.02 during midday trading on Thursday, reaching $3.61. 3,273,166 shares of the stock traded hands, compared to its average volume of 4,766,477. The stock has a market capitalization of $401.87 million, a P/E ratio of -1.58 and a beta of 3.18. Cabaletta Bio has a 12 month low of $1.26 and a 12 month high of $4.23. The company has a fifty day moving average of $3.16 and a 200 day moving average of $2.75.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Cabaletta Bio

Several large investors have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. increased its holdings in Cabaletta Bio by 142.9% during the 2nd 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 purchasing an additional 5,195,285 shares during the period. Millennium Management LLC increased its stake in shares of Cabaletta Bio by 298.5% during the fourth quarter. Millennium Management LLC now owns 2,736,912 shares of the company’s stock valued at $5,994,000 after buying an additional 2,050,099 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Cabaletta Bio by 17.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,858,257 shares of the company’s stock valued at $21,590,000 after acquiring an additional 1,495,768 shares in the last quarter. Woodline Partners LP lifted its stake in Cabaletta Bio by 75.2% in the third quarter. Woodline Partners LP now owns 2,135,348 shares of the company’s stock worth $4,997,000 after acquiring an additional 916,884 shares during the period. Finally, Ikarian Capital LLC purchased a new position in Cabaletta Bio during the 4th quarter valued at $1,971,000.

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.