CureVac (NASDAQ:CVAC) Shares Down 10.7%

Shares of CureVac (NASDAQ:CVAC) fell 10.7% on Monday . The company traded as low as $3.01 and last traded at $3.08. 65,932 shares were traded during trading, a decline of 94% from the average session volume of 1,021,953 shares. The stock had previously closed at $3.45.

Analysts Set New Price Targets

CVAC has been the subject of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 price objective on shares of CureVac in a research report on Wednesday, July 3rd. Leerink Partnrs cut shares of CureVac from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. Finally, SVB Leerink downgraded shares of CureVac from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $12.00 to $4.00 in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, CureVac currently has a consensus rating of “Hold” and an average target price of $10.00.

CureVac Price Performance

The stock’s 50 day moving average is $3.64 and its two-hundred day moving average is $3.35. 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 $718.65 million, a PE ratio of -2.27, a price-to-earnings-growth ratio of 1.87 and a beta of 2.64.

CureVac (NASDAQ:CVAC) last announced its quarterly earnings data on Thursday, May 23rd. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.12). CureVac had a negative return on equity of 49.22% and a negative net margin of 463.49%. The company had revenue of $13.43 million for the quarter, compared to analysts’ expectations of $14.51 million. On average, equities analysts anticipate that CureVac will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVAC. China Universal Asset Management Co. Ltd. boosted its position in shares of CureVac by 351.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 25,887 shares of the company’s stock worth $109,000 after buying an additional 20,149 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of CureVac during the 4th quarter worth approximately $71,000. Vontobel Holding Ltd. purchased a new position in shares of CureVac during the fourth quarter worth about $45,000. Jump Financial LLC purchased a new stake in shares of CureVac in the 4th quarter valued at about $346,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of CureVac by 45.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,122 shares of the company’s stock valued at $184,000 after purchasing an additional 13,687 shares during the period. 17.26% of the stock is currently owned by institutional investors and hedge funds.

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.