CureVac (NASDAQ:CVAC) Shares Gap Up – Here’s Why

CureVac (NASDAQ:CVAC) gapped up before the market opened on Monday . The stock had previously closed at $3.62, but opened at $4.14. CureVac shares last traded at $4.07, with a volume of 388,877 shares traded.

Wall Street Analysts Forecast Growth

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

CureVac Trading Up 14.4 %

The firm has a market capitalization of $926.86 million, a P/E ratio of 7.53, a price-to-earnings-growth ratio of 0.24 and a beta of 2.50. 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 firm’s 50-day simple moving average is $2.93 and its 200-day simple moving average is $3.11.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new position in shares of CureVac in the second quarter worth $8,237,000. Jane Street Group LLC increased its position in CureVac by 239.0% during the 3rd quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock valued at $235,000 after purchasing an additional 55,867 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in CureVac by 99.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock valued at $147,000 after purchasing an additional 21,999 shares during the period. China Universal Asset Management Co. Ltd. increased its position in CureVac by 63.7% during 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 during the period. Finally, XTX Topco Ltd purchased a new position in CureVac during the 2nd quarter valued at $108,000. 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.