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

Cabaletta Bio (NASDAQ:CABA) posted its quarterly earnings data on Sunday. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.08, MarketWatch Earnings reports.

Cabaletta Bio stock opened at $14.01 on Monday. The stock has a market cap of $330.76 million and a P/E ratio of -10.23. Cabaletta Bio has a fifty-two week low of $5.51 and a fifty-two week high of $19.63. The firm’s fifty day moving average price is $11.58 and its 200-day moving average price is $10.40.

Several research firms recently commented on CABA. Zacks Investment Research upgraded Cabaletta Bio from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Friday. BidaskClub upgraded Cabaletta Bio from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Finally, HC Wainwright initiated coverage on Cabaletta Bio in a research report on Tuesday, October 13th. They set a “buy” rating and a $20.00 target price on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.00.

About Cabaletta Bio

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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