CureVac (NASDAQ:CVAC) Shares Gap Down – What’s Next?

CureVac (NASDAQ:CVAC)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $2.88, but opened at $2.80. CureVac shares last traded at $2.81, with a volume of 83,628 shares trading hands.

Analysts Set New Price Targets

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

CureVac Stock Down 1.7 %

The company’s fifty day moving average is $2.93 and its 200-day moving average is $3.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.28 and a current ratio of 2.29. The company has a market capitalization of $633.58 million, a PE ratio of 5.18, a price-to-earnings-growth ratio of 2.04 and a beta of 2.61.

CureVac (NASDAQ:CVAC) last issued its earnings results on Thursday, August 15th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.06). CureVac had a return on equity of 25.55% and a net margin of 20.72%. The firm had revenue of $15.55 million during the quarter, compared to the consensus estimate of $10.07 million. As a group, analysts predict that CureVac will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC purchased a new position in CureVac during the 3rd quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in CureVac in the third quarter worth about $35,000. Bank of New York Mellon Corp purchased a new stake in CureVac during the second quarter valued at approximately $54,000. Ballentine Partners LLC boosted its stake in shares of CureVac by 58.6% during the 3rd 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. Finally, Signaturefd LLC raised its holdings in shares of CureVac by 232.0% in the second quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock valued at $75,000 after acquiring an additional 15,403 shares in the last quarter. Institutional investors own 17.26% of the company’s stock.

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.