CureVac (NASDAQ:CVAC) Stock Price Down 6.1% – What’s Next?

CureVac (NASDAQ:CVAC)’s share price was down 6.1% during trading on Wednesday . The stock traded as low as $3.27 and last traded at $3.31. Approximately 525,492 shares traded hands during trading, a decline of 47% from the average daily volume of 990,520 shares. The stock had previously closed at $3.52.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price objective on shares of CureVac in a research note on Friday, February 14th.

CureVac Price Performance

The company has a 50 day moving average of $3.63 and a 200 day moving average of $3.21. The firm has a market cap of $738.80 million, a price-to-earnings ratio of 6.00 and a beta of 2.51. The company has a current ratio of 6.20, a quick ratio of 6.19 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On CureVac

Large investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC bought a new position in CureVac during the 3rd quarter worth about $30,000. International Assets Investment Management LLC bought a new position in CureVac during the 3rd quarter worth about $35,000. Integrated Wealth Concepts LLC bought a new position in CureVac during the 3rd quarter worth about $35,000. Two Sigma Advisers LP bought a new position in CureVac during the 4th quarter worth about $48,000. Finally, Jump Financial LLC bought a new position in CureVac during the 4th quarter worth about $55,000. Institutional investors 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.