CureVac (NASDAQ:CVAC) Shares Gap Up to $3.34

CureVac (NASDAQ:CVAC) shares gapped up before the market opened on Wednesday . The stock had previously closed at $3.34, but opened at $3.79. CureVac shares last traded at $3.60, with a volume of 2,671,910 shares.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CVAC. Guggenheim reissued a “neutral” rating on shares of CureVac in a report on Friday, April 5th. JMP Securities reissued a “market outperform” rating and set a $18.00 price objective on shares of CureVac in a report on Wednesday. SVB Leerink cut CureVac from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $12.00 to $4.00 in a report on Thursday, April 25th. Finally, Leerink Partnrs lowered CureVac from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, CureVac presently has a consensus rating of “Hold” and a consensus price target of $10.00.

CureVac Trading Down 6.6 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.09 and a current ratio of 2.25. The stock has a market capitalization of $698.51 million, a P/E ratio of -2.35 and a beta of 2.64. The stock has a 50-day moving average price of $3.47 and a two-hundred day moving average price of $3.45.

CureVac (NASDAQ:CVAC) last released its quarterly earnings results on Thursday, May 23rd. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.12). CureVac had a negative net margin of 463.49% and a negative return on equity of 49.22%. The firm had revenue of $13.43 million for the quarter, compared to the consensus estimate of $14.51 million. On average, research analysts forecast that CureVac will post -1.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. raised its stake in shares of CureVac by 351.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,887 shares of the company’s stock worth $109,000 after purchasing an additional 20,149 shares during the last quarter. Deutsche Bank AG grew its holdings in CureVac by 5.1% during the third quarter. Deutsche Bank AG now owns 72,510 shares of the company’s stock valued at $495,000 after purchasing an additional 3,491 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in CureVac during the fourth quarter valued at about $68,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of CureVac by 45.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,122 shares of the company’s stock worth $184,000 after acquiring an additional 13,687 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of CureVac by 33.3% in the third quarter. Federated Hermes Inc. now owns 40,000 shares of the company’s stock worth $273,000 after acquiring an additional 10,000 shares during the period. Hedge funds and other 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.