CureVac (NASDAQ:CVAC) Trading Down 3.7% – Here’s Why

Shares of CureVac (NASDAQ:CVAC) fell 3.7% during mid-day trading on Wednesday . The stock traded as low as $4.00 and last traded at $3.99. 98,708 shares changed hands during trading, a decline of 93% from the average session volume of 1,485,596 shares. The stock had previously closed at $4.14.

CureVac Price Performance

The stock has a 50-day simple moving average of $3.31 and a 200 day simple moving average of $3.19. The company has a market cap of $861.94 million, a PE ratio of 7.00 and a beta of 2.50. The company has a quick ratio of 6.19, a current ratio of 6.20 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new stake in shares of CureVac in the 3rd quarter valued at $30,000. International Assets Investment Management LLC purchased a new stake in CureVac during the third quarter worth about $35,000. Integrated Wealth Concepts LLC purchased a new stake in CureVac during the third quarter worth about $35,000. Bank of New York Mellon Corp acquired a new stake in shares of CureVac during the second quarter worth about $54,000. Finally, Barclays PLC purchased a new position in shares of CureVac in the third quarter valued at approximately $67,000. Institutional investors and hedge funds own 17.26% of the company’s stock.

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.