CureVac (NASDAQ:CVAC) Stock Price Down 6.1% – What’s Next?

CureVac (NASDAQ:CVAC)’s share price traded down 6.1% on Wednesday . The stock traded as low as $3.27 and last traded at $3.31. 525,492 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 990,520 shares. The stock had previously closed at $3.52.

Wall Street Analyst Weigh In

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

CureVac Price Performance

The stock’s 50-day simple moving average is $3.63 and its two-hundred day simple moving average is $3.21. The company has a market capitalization of $736.57 million, a price-to-earnings ratio of 5.98 and a beta of 2.51. The company has a quick ratio of 6.19, a current ratio of 6.20 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CVAC. Signaturefd LLC increased its stake in CureVac by 26.9% during the 3rd quarter. Signaturefd LLC now owns 27,970 shares of the company’s stock worth $82,000 after buying an additional 5,927 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of CureVac in the third quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new stake in shares of CureVac during the third quarter worth approximately $35,000. Ballentine Partners LLC raised its stake in CureVac by 58.6% in the 3rd 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 during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in CureVac by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 43,143 shares of the company’s stock valued at $127,000 after purchasing an additional 16,792 shares in the last quarter. 17.26% of the stock is owned by hedge funds and other institutional investors.

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.