Cabaletta Bio (NASDAQ:CABA - Get Free Report) posted its earnings results on Wednesday. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.04), Zacks reports.
Cabaletta Bio Price Performance
Shares of NASDAQ CABA traded down $0.03 during trading on Monday, hitting $1.75. 689,980 shares of the company were exchanged, compared to its average volume of 1,555,935. Cabaletta Bio has a 1 year low of $0.99 and a 1 year high of $13.50. The company has a market cap of $88.80 million, a price-to-earnings ratio of -0.81 and a beta of 2.72. The firm's fifty day moving average price is $1.37 and its 200 day moving average price is $2.12.
Institutional Trading of Cabaletta Bio
Institutional investors have recently bought and sold shares of the company. Invesco Ltd. raised its stake in Cabaletta Bio by 357.1% in the 1st quarter. Invesco Ltd. now owns 61,675 shares of the company's stock valued at $85,000 after purchasing an additional 48,181 shares during the last quarter. Comerica Bank grew its holdings in shares of Cabaletta Bio by 2,292.1% during the first quarter. Comerica Bank now owns 41,599 shares of the company's stock worth $58,000 after buying an additional 39,860 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Cabaletta Bio in the first quarter valued at approximately $102,000.
Analyst Upgrades and Downgrades
CABA has been the subject of a number of research reports. Citigroup lowered their price target on Cabaletta Bio from $17.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Morgan Stanley reduced their price objective on Cabaletta Bio from $30.00 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, April 1st. Wells Fargo & Company dropped their target price on Cabaletta Bio from $6.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Guggenheim raised their price target on shares of Cabaletta Bio from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, UBS Group decreased 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. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cabaletta Bio has an average rating of "Buy" and an average target price of $20.33.
Check Out Our Latest Analysis on Cabaletta Bio
Cabaletta Bio Company Profile
(
Get Free Report)
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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