Cabaletta Bio (NASDAQ:CABA) Releases Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Cabaletta Bio reported a quarterly loss of $0.34 per share, beating analysts’ consensus estimate by $0.03.
• Shares fell to $2.73 in midday trading, with the stock remaining well below its 52-week high of $4.23 and carrying a market capitalization of approximately $444 million.
• Analyst sentiment is mixed but leans positive: five analysts rate the stock Buy, one rates it Hold and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $15.50.

Cabaletta Bio (NASDAQ:CABA - Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.03, FiscalAI reports.

Cabaletta Bio Price Performance

Shares of NASDAQ:CABA traded down $0.12 during midday trading on Thursday, reaching $2.73. The company's stock had a trading volume of 1,869,582 shares, compared to its average volume of 3,707,494. The business's fifty day simple moving average is $2.91 and its 200-day simple moving average is $3.07. Cabaletta Bio has a fifty-two week low of $1.40 and a fifty-two week high of $4.23. The company has a market capitalization of $444.31 million, a P/E ratio of -1.39 and a beta of 3.30.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 target price on shares of Cabaletta Bio in a research note on Monday, May 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Cabaletta Bio in a report on Friday, July 17th. Wall Street Zen lowered shares of Cabaletta Bio from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. Jefferies Financial Group reissued a "buy" rating on shares of Cabaletta Bio in a research report on Wednesday, June 3rd. Finally, Wells Fargo & Company upped their price target on Cabaletta Bio from $2.00 to $4.00 and gave the company an "equal weight" rating in a report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.50.

Hedge Funds Weigh In On Cabaletta Bio

A number of large investors have recently modified their holdings of the stock. Invesco Ltd. boosted its position 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 buying an additional 48,181 shares during the last quarter. Comerica Bank increased its position in Cabaletta Bio by 2,292.1% in the first quarter. Comerica Bank now owns 41,599 shares of the company's stock worth $58,000 after purchasing an additional 39,860 shares during the period. AQR Capital Management LLC bought a new stake in Cabaletta Bio during the 1st quarter worth about $102,000. XTX Topco Ltd bought a new position in shares of Cabaletta Bio in the 2nd quarter valued at about $148,000. Finally, Marshall Wace LLP grew its position in shares of Cabaletta Bio by 470.7% during the 2nd quarter. Marshall Wace LLP now owns 190,957 shares of the company's stock worth $290,000 after buying an additional 157,497 shares during the period.

About Cabaletta Bio

Cabaletta Bio is a clinical-stage biotechnology company pioneering chimeric autoantibody receptor T cell (CAAR-T) therapies for B cell–mediated autoimmune diseases. Its proprietary platform engineers patient-derived T cells to selectively target and eliminate pathogenic B cells that produce disease-driving autoantibodies, with the aim of preserving overall immune function and reducing off-target toxicity.

The company's lead candidate, DSG3-CAART, is being evaluated in pemphigus vulgaris, a rare blistering disorder caused by autoantibodies against desmoglein 3.

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