CureVac (NASDAQ:CVAC) Shares Gap Down – Here’s Why

CureVac (NASDAQ:CVAC) shares gapped down before the market opened on Wednesday . The stock had previously closed at $2.88, but opened at $2.80. CureVac shares last traded at $2.81, with a volume of 83,628 shares changing hands.

Wall Street Analysts Forecast Growth

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

CureVac Price Performance

The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09. The stock has a market cap of $597.76 million, a PE ratio of 5.00, a PEG ratio of 2.04 and a beta of 2.61. The business has a 50-day moving average price of $2.93 and a 200 day moving average price of $3.26.

CureVac (NASDAQ:CVAC) last issued its earnings results on Thursday, August 15th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). CureVac had a return on equity of 25.55% and a net margin of 20.72%. The business had revenue of $15.55 million for the quarter, compared to the consensus estimate of $10.07 million. As a group, research analysts forecast that CureVac will post 0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CVAC. Point72 Asset Management L.P. purchased a new stake in shares of CureVac during the second quarter worth $8,237,000. Platinum Investment Management Ltd. raised its stake in shares of CureVac by 25.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 626,684 shares of the company’s stock valued at $1,899,000 after purchasing an additional 128,778 shares during the period. Tidal Investments LLC purchased a new stake in CureVac during the 1st quarter worth about $175,000. XTX Topco Ltd bought a new position in CureVac in the 2nd quarter worth about $108,000. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in CureVac by 99.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock valued at $147,000 after buying an additional 21,999 shares in the last quarter. 17.26% of the stock is 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.