CureVac (NASDAQ:CVAC) Trading 4.7% Higher – Here’s What Happened

CureVac (NASDAQ:CVAC)’s share price was up 4.7% on Thursday . The company traded as high as $2.88 and last traded at $2.88. Approximately 363,333 shares were traded during trading, a decline of 56% from the average daily volume of 816,999 shares. The stock had previously closed at $2.75.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reissued a “market outperform” rating and issued a $16.00 price objective on shares of CureVac in a research report on Monday, September 16th.

CureVac Stock Performance

The company has a quick ratio of 6.19, a current ratio of 6.20 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $676.12 million, a P/E ratio of 5.49, a price-to-earnings-growth ratio of 0.24 and a beta of 2.59. The company’s 50 day moving average is $2.84 and its 200-day moving average is $3.19.

Institutional Investors Weigh In On CureVac

Hedge funds have recently made changes to their positions in the business. Barclays PLC purchased a new stake in CureVac in the 3rd quarter worth approximately $67,000. Public Employees Retirement System of Ohio purchased a new stake in shares of CureVac in the third quarter worth $91,000. Jane Street Group LLC boosted its stake in CureVac by 239.0% during the third quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock valued at $235,000 after buying an additional 55,867 shares during the period. Integrated Wealth Concepts LLC purchased a new position in CureVac during the third quarter worth about $35,000. Finally, China Universal Asset Management Co. Ltd. grew its position in CureVac by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 43,143 shares of the company’s stock worth $127,000 after buying an additional 16,792 shares in the last quarter. 17.26% of the stock is currently owned by institutional investors.

CureVac Company Profile

CureVac N.V., a biopharmaceutical company, focuses on developing various transformative medicines based on messenger ribonucleic acid (mRNA). It is developing prophylactic vaccines, such as mRNA-based vaccine candidates CV2CoV, which is in Phase 1 clinical trial against SARS-CoV-2; CV7202 which is in Phase 1 clinical trial for the treatment of rabies; and CVSQIV to treat multivalent seasonal influenza; Flu SV mRNA fot treating nucleotides, single antigen seasonal influenza.