Cabaletta Bio (NASDAQ:CABA – Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.65), Zacks reports.
Cabaletta Bio Trading Down 10.6 %
Shares of NASDAQ CABA opened at $1.39 on Tuesday. The stock has a market cap of $67.69 million, a P/E ratio of -0.64 and a beta of 2.58. Cabaletta Bio has a twelve month low of $1.36 and a twelve month high of $19.04. The stock has a 50 day moving average of $2.09 and a two-hundred day moving average of $2.95.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on CABA shares. Evercore ISI lowered Cabaletta Bio from an “outperform” rating to an “inline” rating and cut their target price for the stock from $15.00 to $6.00 in a research report on Friday, December 20th. Wells Fargo & Company cut shares of Cabaletta Bio from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $12.00 to $6.00 in a report on Thursday, December 19th. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Cabaletta Bio in a research report on Tuesday. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cabaletta Bio currently has a consensus rating of “Buy” and an average target price of $22.71.
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.
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