CureVac (NASDAQ:CVAC) Shares Up 5.8% – Here’s What Happened

CureVac (NASDAQ:CVAC) was up 5.8% during trading on Wednesday . The stock traded as high as $2.93 and last traded at $2.90. Approximately 276,541 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 833,462 shares. The stock had previously closed at $2.74.

Analyst Upgrades and Downgrades

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

CureVac Trading Up 5.1 %

The company’s fifty day moving average price is $2.85 and its two-hundred day moving average price is $3.25. The company has a market cap of $644.77 million, a price-to-earnings ratio of 4.98, a price-to-earnings-growth ratio of 0.23 and a beta of 2.61. The company has a quick ratio of 6.19, a current ratio of 6.20 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Private Advisor Group LLC bought a new stake in CureVac in the 3rd quarter valued at approximately $30,000. Integrated Wealth Concepts LLC acquired a new position in CureVac during the third quarter worth $35,000. International Assets Investment Management LLC acquired a new stake in CureVac in the 3rd quarter valued at $35,000. Bank of New York Mellon Corp bought a new stake in CureVac during the 2nd quarter worth about $54,000. Finally, Ballentine Partners LLC boosted its stake in shares of CureVac by 58.6% during the 3rd quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock worth $67,000 after buying an additional 8,406 shares during the last quarter. Institutional investors and hedge funds own 17.26% of the company’s stock.

About CureVac

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.