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

CureVac (NASDAQ:CVAC)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $4.07, but opened at $5.36. CureVac shares last traded at $5.39, with a volume of 9,523,255 shares traded.

Analysts Set New Price Targets

CVAC has been the subject of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $10.00 target price on shares of CureVac in a research report on Wednesday, May 28th. Jefferies Financial Group reissued a “hold” rating and issued a $5.00 price objective (down from $7.00) on shares of CureVac in a research report on Friday. Finally, UBS Group lowered their price objective on CureVac from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th.

CureVac Stock Performance

The company has a 50-day moving average price of $3.76 and a two-hundred day moving average price of $3.48. 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 $1.25 billion, a P/E ratio of 10.13 and a beta of 2.49.

CureVac (NASDAQ:CVAC) last posted its quarterly earnings data on Thursday, May 22nd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.08). CureVac had a return on equity of 21.98% and a net margin of 20.72%. The business had revenue of $0.94 million during the quarter, compared to the consensus estimate of $4.27 million. On average, equities analysts forecast that CureVac will post 0.72 earnings per share for the current year.

Institutional Trading of CureVac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVAC. Greenleaf Trust bought a new stake in CureVac in the 1st quarter valued at about $31,000. Integrated Wealth Concepts LLC increased its position in CureVac by 25.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 15,000 shares of the company’s stock valued at $42,000 after buying an additional 3,000 shares in the last quarter. Two Sigma Advisers LP bought a new stake in CureVac in the 4th quarter valued at about $48,000. Jump Financial LLC bought a new stake in CureVac in the 4th quarter valued at about $55,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in CureVac in the 4th quarter valued at about $66,000. 17.26% of the stock is owned by 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.