CureVac (NASDAQ:CVAC) Shares Gap Down – What’s Next?

CureVac (NASDAQ:CVAC)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $4.68, but opened at $4.36. CureVac shares last traded at $3.97, with a volume of 913,131 shares changing hands.

Analyst Upgrades and Downgrades

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

CureVac Stock Down 11.3 %

The firm has a market capitalization of $929.10 million, a PE ratio of 7.55, a PEG ratio of 0.24 and a beta of 2.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.19 and a current ratio of 6.20. The company has a fifty day simple moving average of $3.00 and a two-hundred day simple moving average of $3.13.

Hedge Funds Weigh In On CureVac

A number of hedge funds and other institutional investors have recently modified their holdings of CVAC. Barclays PLC bought a new stake in CureVac during the third quarter valued at about $67,000. Public Employees Retirement System of Ohio bought a new stake in shares of CureVac in the 3rd quarter valued at about $91,000. Jane Street Group LLC grew its position in shares of CureVac by 239.0% in the 3rd quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock worth $235,000 after buying an additional 55,867 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of CureVac during the 3rd quarter worth approximately $35,000. Finally, China Universal Asset Management Co. Ltd. lifted 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 valued at $127,000 after acquiring an additional 16,792 shares during 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.