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

CureVac (NASDAQ:CVAC)’s stock price gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

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 business has a 50-day moving average price of $3.06 and a 200-day moving average price of $3.14. 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 firm has a market capitalization of $947.01 million, a P/E ratio of 7.69, a PEG ratio of 0.24 and a beta of 2.50.

Institutional Trading of CureVac

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new position in shares of CureVac during the second quarter valued at $8,237,000. Jane Street Group LLC lifted its holdings in CureVac by 239.0% during the 3rd quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock valued at $235,000 after purchasing an additional 55,867 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in CureVac by 99.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock valued at $147,000 after buying an additional 21,999 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake 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 buying an additional 16,792 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of CureVac during the second quarter worth approximately $108,000. Institutional investors 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.