CureVac’s (CVAC) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of CureVac (NASDAQ:CVAC) in a research note released on Friday morning,Benzinga reports. They currently have a $16.00 price objective on the stock.

CureVac Stock Performance

Shares of NASDAQ CVAC opened at $3.65 on Friday. The company has a market cap of $817.16 million, a PE ratio of 6.64 and a beta of 2.51. CureVac has a 12 month low of $2.21 and a 12 month high of $5.28. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.20 and a quick ratio of 6.19. The company has a 50-day simple moving average of $3.60 and a 200-day simple moving average of $3.22.

Institutional Investors Weigh In On CureVac

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC acquired a new position in CureVac during the third quarter valued at approximately $30,000. International Assets Investment Management LLC acquired a new position in CureVac during the third quarter valued at approximately $35,000. Integrated Wealth Concepts LLC acquired a new position in CureVac during the third quarter valued at approximately $35,000. Jump Financial LLC acquired a new position in CureVac during the fourth quarter valued at approximately $55,000. Finally, Ballentine Partners LLC lifted its position in CureVac by 58.6% during the third quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock valued at $67,000 after buying an additional 8,406 shares in the last quarter. 17.26% of the stock is owned by institutional investors and hedge funds.

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.