Cabaletta Bio (NASDAQ:CABA) Announces Quarterly Earnings Results

Cabaletta Bio (NASDAQ:CABAGet Rating) issued its quarterly earnings data on Thursday. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.08, MarketWatch Earnings reports.

Shares of CABA opened at $1.49 on Friday. The stock has a 50 day moving average of $1.74 and a 200-day moving average of $4.84. Cabaletta Bio has a 52 week low of $1.17 and a 52 week high of $14.95.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Cabaletta Bio by 120.2% in the 1st quarter. Bank of New York Mellon Corp now owns 22,674 shares of the company’s stock worth $46,000 after acquiring an additional 12,379 shares in the last quarter. Walleye Trading LLC acquired a new position in shares of Cabaletta Bio in the 4th quarter worth approximately $87,000. Cubist Systematic Strategies LLC grew its position in shares of Cabaletta Bio by 112.4% in the 4th quarter. Cubist Systematic Strategies LLC now owns 22,880 shares of the company’s stock worth $87,000 after acquiring an additional 12,106 shares in the last quarter. Northern Trust Corp grew its position in shares of Cabaletta Bio by 17.4% in the 4th quarter. Northern Trust Corp now owns 29,307 shares of the company’s stock worth $111,000 after acquiring an additional 4,337 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Cabaletta Bio in the 4th quarter worth approximately $151,000. Institutional investors own 62.75% of the company’s stock.

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.

Further Reading

Earnings History for Cabaletta Bio (NASDAQ:CABA)

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