CureVac (NASDAQ:CVAC) Stock Price Down 5.1% – Here’s What Happened

CureVac (NASDAQ:CVAC)’s stock price was down 5.1% during mid-day trading on Tuesday . The company traded as low as $2.62 and last traded at $2.63. Approximately 95,297 shares were traded during trading, a decline of 89% from the average daily volume of 835,215 shares. The stock had previously closed at $2.77.

Wall Street Analyst Weigh In

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

CureVac Stock Performance

The stock’s 50-day simple moving average is $2.84 and its 200-day simple moving average is $3.25. The stock has a market cap of $642.54 million, a price-to-earnings ratio of 5.22, a price-to-earnings-growth ratio of 0.23 and a beta of 2.61. The company has a current ratio of 6.20, a quick ratio of 6.19 and a debt-to-equity ratio of 0.05.

Institutional Trading of CureVac

Large investors have recently made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in shares of CureVac during the 3rd quarter worth approximately $30,000. International Assets Investment Management LLC bought a new position in shares of CureVac during the third quarter valued at $35,000. Integrated Wealth Concepts LLC bought a new position in CureVac during the third quarter worth $35,000. Bank of New York Mellon Corp bought a new position in CureVac during the second quarter worth $54,000. Finally, Signaturefd LLC raised its stake 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 during the last quarter. 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.