Cabaletta Bio (NASDAQ:CABA - Get Free Report) issued its earnings results on Monday. The company reported ($0.65) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.65), Zacks reports.
Cabaletta Bio Price Performance
Shares of CABA traded down $0.08 during mid-day trading on Friday, reaching $1.11. 1,634,701 shares of the company's stock were exchanged, compared to its average volume of 1,497,163. The stock has a market capitalization of $56.32 million, a PE ratio of -0.52 and a beta of 2.44. Cabaletta Bio has a 52-week low of $1.08 and a 52-week high of $19.04. The business's fifty day simple moving average is $1.98 and its 200-day simple moving average is $2.89.
Analysts Set New Price Targets
A number of brokerages have issued reports on CABA. Morgan Stanley cut their price objective on shares of Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating for the company in a report on Tuesday. Wells Fargo & Company reduced their price target on shares of Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating for the company in a report on Tuesday. Evercore ISI downgraded Cabaletta Bio from an "outperform" rating to an "inline" rating and dropped their target price for the stock from $15.00 to $6.00 in a research note on Friday, December 20th. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price objective on shares of Cabaletta Bio in a research report on Tuesday. Finally, Guggenheim restated a "buy" rating and set a $23.00 price target on shares of Cabaletta Bio in a research note on Tuesday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cabaletta Bio currently has an average rating of "Buy" and a consensus target price of $21.00.
View Our Latest Research Report on Cabaletta Bio
Cabaletta Bio Company Profile
(
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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. The company's lead product candidate is CABA-201, a fully human anti-CD19 binder for the treatment of Phase 1/2 clinical trials in dermatomyositis, anti-synthetase syndrome, immune-mediated necrotizing myopathy, lupus nephritis, non-renal systemic lupus erythematosus, systemic sclerosis, and generalized myasthenia gravis.
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