CureVac (NASDAQ:CVAC) Trading 5.8% Higher – Still a Buy?

Shares of CureVac (NASDAQ:CVAC) were up 5.8% during trading on Wednesday . The company traded as high as $2.93 and last traded at $2.90. Approximately 276,541 shares changed hands during trading, a decline of 67% from the average daily volume of 833,462 shares. The stock had previously closed at $2.74.

Wall Street Analysts Forecast Growth

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

CureVac Stock Up 5.1 %

The firm has a market cap of $644.77 million, a PE ratio of 4.98, a P/E/G ratio of 0.23 and a beta of 2.61. 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’s 50 day moving average is $2.85 and its 200-day moving average is $3.25.

Hedge Funds Weigh In On CureVac

Institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new stake in CureVac during the third quarter worth about $30,000. Integrated Wealth Concepts LLC bought a new stake in shares of CureVac in the 3rd quarter worth approximately $35,000. International Assets Investment Management LLC acquired a new position in shares of CureVac in the 3rd quarter valued at $35,000. Bank of New York Mellon Corp purchased a new position in CureVac during the 2nd quarter worth approximately $54,000. Finally, Ballentine Partners LLC lifted its holdings in shares of CureVac by 58.6% in the third quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock valued at $67,000 after purchasing an additional 8,406 shares in the last quarter. 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.