CureVac (NASDAQ:CVAC) Shares Gap Down – Here’s What Happened

Shares of CureVac (NASDAQ:CVAC) gapped down prior to trading 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.

Wall Street Analyst Weigh In

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

CureVac Stock Down 11.3 %

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 company has a market capitalization of $929.10 million, a PE ratio of 7.55, a PEG ratio of 0.24 and a beta of 2.50. The company’s 50 day moving average is $3.00 and its two-hundred day moving average is $3.13.

Institutional Investors Weigh In On CureVac

Several large investors have recently bought and sold shares of the business. Point72 Asset Management L.P. bought a new position in shares of CureVac during the 2nd quarter valued at approximately $8,237,000. Jane Street Group LLC raised its stake in shares of CureVac by 239.0% in the third quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock valued at $235,000 after acquiring an additional 55,867 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of CureVac by 99.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock worth $147,000 after purchasing an additional 21,999 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of CureVac by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 43,143 shares of the company’s stock worth $127,000 after purchasing an additional 16,792 shares during the period. Finally, XTX Topco Ltd purchased a new stake in CureVac in the 2nd quarter worth about $108,000. Institutional investors 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.