CureVac (NASDAQ:CVAC) Trading Up 3.6% – Here’s What Happened

CureVac (NASDAQ:CVAC)’s stock price rose 3.6% on Friday . The stock traded as high as $3.19 and last traded at $3.16. Approximately 170,744 shares changed hands during trading, a decline of 79% from the average daily volume of 811,117 shares. The stock had previously closed at $3.05.

Analysts Set New Price Targets

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 Price Performance

The firm has a market cap of $687.31 million, a P/E ratio of 5.58, a P/E/G ratio of 0.24 and a beta of 2.59. 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 firm’s fifty day simple moving average is $2.86 and its 200 day simple moving average is $3.14.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CVAC. Point72 Asset Management L.P. acquired a new position in CureVac in the 2nd quarter valued at about $8,237,000. Signaturefd LLC grew its position in shares of CureVac by 232.0% in the 2nd quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock valued at $75,000 after buying an additional 15,403 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of CureVac during the third quarter worth about $91,000. China Universal Asset Management Co. Ltd. raised its holdings 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 worth $127,000 after purchasing an additional 16,792 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of 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 acquiring an additional 21,999 shares during the period. Hedge funds and other 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.