CureVac (NASDAQ:CVAC) Trading Up 4.7% – Here’s Why

CureVac (NASDAQ:CVAC) shares rose 4.7% during mid-day trading on Thursday . The company traded as high as $2.88 and last traded at $2.88. Approximately 363,333 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 816,999 shares. The stock had previously closed at $2.75.

Analyst Ratings Changes

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

CureVac Trading Down 4.0 %

The stock’s fifty day moving average price is $2.84 and its two-hundred day moving average price is $3.18. The company has a current ratio of 6.20, a quick ratio of 6.19 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $642.54 million, a P/E ratio of 5.22, a price-to-earnings-growth ratio of 0.24 and a beta of 2.59.

Institutional Investors Weigh In On CureVac

Several institutional investors have recently bought and sold shares of CVAC. Signaturefd LLC boosted its position in CureVac by 26.9% during the 3rd quarter. Signaturefd LLC now owns 27,970 shares of the company’s stock valued at $82,000 after buying an additional 5,927 shares during the period. Green Alpha Advisors LLC raised its stake in shares of CureVac by 41.3% during the third quarter. Green Alpha Advisors LLC now owns 27,319 shares of the company’s stock valued at $80,000 after acquiring an additional 7,979 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of CureVac by 58.6% during the third quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock worth $67,000 after purchasing an additional 8,406 shares during the period. Private Advisor Group LLC bought a new stake in shares of CureVac in the third quarter worth about $30,000. Finally, International Assets Investment Management LLC purchased a new position in CureVac during the 3rd quarter valued at about $35,000. 17.26% of the stock is currently 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.