CureVac (NASDAQ:CVAC) Shares Gap Up – Still a Buy?

Shares of CureVac (NASDAQ:CVAC) gapped up before the market opened on Wednesday . The stock had previously closed at $2.89, but opened at $2.95. CureVac shares last traded at $2.89, with a volume of 121,984 shares traded.

Analyst Upgrades and Downgrades

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

CureVac Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.28 and a current ratio of 2.29. The stock’s 50 day moving average price is $3.15 and its two-hundred day moving average price is $3.26.

CureVac (NASDAQ:CVAC) last issued its earnings results on Thursday, August 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). CureVac had a negative net margin of 422.66% and a negative return on equity of 57.18%. The company had revenue of $15.55 million during the quarter, compared to analysts’ expectations of $10.07 million. As a group, equities research analysts expect that CureVac will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of CureVac

Several large investors have recently bought and sold shares of CVAC. Ballentine Partners LLC purchased a new position in shares of CureVac during the 1st quarter worth approximately $38,000. Bank of New York Mellon Corp acquired a new stake in CureVac during the 2nd quarter valued at $54,000. Signaturefd LLC increased its position in CureVac by 232.0% during the second quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock worth $75,000 after buying an additional 15,403 shares in the last quarter. Green Alpha Advisors LLC raised its holdings in shares of CureVac by 41.3% in the third quarter. Green Alpha Advisors LLC now owns 27,319 shares of the company’s stock worth $80,000 after acquiring an additional 7,979 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of CureVac in the second quarter valued at $108,000. Institutional investors and hedge funds 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.