CureVac (NASDAQ:CVAC) Shares Up 5.7% – What’s Next?

CureVac (NASDAQ:CVAC) shot up 5.7% during mid-day trading on Friday . The company traded as high as $4.52 and last traded at $4.47. 876,726 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 2,196,451 shares. The stock had previously closed at $4.23.

Analyst Upgrades and Downgrades

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

CureVac Stock Performance

The company has a quick ratio of 6.19, a current ratio of 6.20 and a debt-to-equity ratio of 0.05. The stock has a market cap of $973.88 million, a P/E ratio of 7.91, a price-to-earnings-growth ratio of 0.24 and a beta of 2.50. The firm’s 50-day moving average is $3.06 and its two-hundred day moving average is $3.14.

Hedge Funds Weigh In On CureVac

Several hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC bought a new stake in shares of CureVac during the 3rd quarter worth about $30,000. International Assets Investment Management LLC bought a new stake in CureVac during the third quarter worth approximately $35,000. Integrated Wealth Concepts LLC bought a new stake in CureVac during the third quarter worth approximately $35,000. Bank of New York Mellon Corp acquired a new position in CureVac during the second quarter valued at approximately $54,000. Finally, Barclays PLC bought a new position in shares of CureVac in the third quarter valued at approximately $67,000. 17.26% of the stock is owned by institutional investors and hedge funds.

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.