CureVac (NASDAQ:CVAC) Trading Down 5.5% – Time to Sell?

CureVac (NASDAQ:CVAC)’s share price was down 5.5% during mid-day trading on Tuesday . The company traded as low as $2.92 and last traded at $2.93. Approximately 123,255 shares changed hands during trading, a decline of 85% from the average daily volume of 817,969 shares. The stock had previously closed at $3.10.

Analysts Set New Price Targets

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

CureVac Stock Down 3.9 %

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 stock has a market capitalization of $667.16 million, a price-to-earnings ratio of 5.27, a price-to-earnings-growth ratio of 0.24 and a beta of 2.59. The business’s 50-day moving average is $2.84 and its two-hundred day moving average is $3.20.

Institutional Trading of CureVac

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of CureVac in the second quarter valued at about $54,000. Signaturefd LLC lifted its holdings in CureVac by 232.0% in the 2nd quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock valued at $75,000 after acquiring an additional 15,403 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in CureVac by 99.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock valued at $147,000 after buying an additional 21,999 shares in the last quarter. XTX Topco Ltd acquired a new stake in CureVac during the 2nd quarter worth about $108,000. Finally, Point72 Asset Management L.P. acquired a new stake in CureVac during the second quarter valued at $8,237,000. Institutional investors and hedge funds 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.