HC Wainwright Weighs in on Cabaletta Bio FY2029 Earnings

Cabaletta Bio, Inc. (NASDAQ:CABA - Free Report) - Equities researchers at HC Wainwright issued their FY2029 EPS estimates for shares of Cabaletta Bio in a research report issued on Tuesday, April 1st. HC Wainwright analyst D. Tsao anticipates that the company will earn ($2.00) per share for the year. HC Wainwright currently has a "Buy" rating and a $25.00 target price on the stock. The consensus estimate for Cabaletta Bio's current full-year earnings is ($2.34) per share.

A number of other analysts have also issued reports on the company. Guggenheim reiterated a "buy" rating and set a $23.00 price objective on shares of Cabaletta Bio in a research note on Tuesday, April 1st. Evercore ISI cut Cabaletta Bio from an "outperform" rating to an "inline" rating and decreased their price target for the company from $15.00 to $6.00 in a research report on Friday, December 20th. 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 research report on Tuesday, April 1st. UBS Group reduced their price objective on shares of Cabaletta Bio from $10.00 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company lowered their target price on shares of Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $21.00.

Cabaletta Bio Stock Performance

NASDAQ CABA traded down $0.03 during trading on Thursday, hitting $1.12. 352,304 shares of the company's stock traded hands, compared to its average volume of 1,493,152. The business has a 50 day moving average of $1.95 and a 200-day moving average of $2.84. The stock has a market capitalization of $56.58 million, a price-to-earnings ratio of -0.52 and a beta of 2.44. Cabaletta Bio has a 12-month low of $0.99 and a 12-month high of $19.04.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.65) earnings per share for the quarter, meeting the consensus estimate of ($0.65).

Institutional Trading of Cabaletta Bio

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cabaletta Bio in the third quarter worth $32,000. Point72 DIFC Ltd bought a new stake in Cabaletta Bio during the third quarter worth about $33,000. Miller Financial Services LLC purchased a new position in shares of Cabaletta Bio in the 4th quarter worth about $33,000. Avanza Fonder AB bought a new position in shares of Cabaletta Bio during the 4th quarter valued at about $40,000. Finally, Intech Investment Management LLC increased its position in shares of Cabaletta Bio by 42.2% during the 4th quarter. Intech Investment Management LLC now owns 20,203 shares of the company's stock valued at $46,000 after purchasing an additional 5,999 shares during the last quarter.

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. 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.