CureVac (NASDAQ:CVAC) Stock Price Down 7.2% – What’s Next?

CureVac (NASDAQ:CVAC) traded down 7.2% during trading on Monday . The stock traded as low as $2.72 and last traded at $2.77. 244,698 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 816,234 shares. The stock had previously closed at $2.98.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market outperform” rating and set a $16.00 price target on shares of CureVac in a report on Friday, February 14th.

CureVac Stock Performance

The business has a fifty day moving average of $3.38 and a 200-day moving average of $3.19. The company has a market cap of $621.27 million, a PE ratio of 5.10 and a beta of 2.53. The company has a current ratio of 6.20, a quick ratio of 6.19 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On CureVac

Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new stake in CureVac in the fourth quarter valued at $585,000. Two Sigma Investments LP bought a new stake in shares of CureVac during the 4th quarter valued at $391,000. Alyeska Investment Group L.P. boosted its holdings in shares of CureVac by 25.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 500,000 shares of the company’s stock valued at $1,705,000 after buying an additional 100,000 shares in the last quarter. Jane Street Group LLC grew its position in shares of CureVac by 239.0% in the 3rd quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock worth $235,000 after buying an additional 55,867 shares during the period. Finally, Northern Trust Corp increased its stake in shares of CureVac by 98.1% in the 4th quarter. Northern Trust Corp now owns 60,100 shares of the company’s stock worth $205,000 after acquiring an additional 29,759 shares in the last quarter. 17.26% of the stock is owned by hedge funds and other institutional investors.

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.