CureVac (NASDAQ:CVAC) Stock Price Up 5.8% – Here’s Why

CureVac (NASDAQ:CVAC) was up 5.8% during trading on Wednesday . The company traded as high as $2.93 and last traded at $2.90. Approximately 276,541 shares traded hands during trading, a decline of 67% from the average daily volume of 833,462 shares. The stock had previously closed at $2.74.

Wall Street Analyst Weigh In

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

CureVac Trading Up 4.7 %

The company has a market cap of $642.54 million, a P/E ratio of 5.22, a P/E/G ratio of 0.23 and a beta of 2.61. The business has a fifty day simple moving average of $2.83 and a 200 day simple moving average of $3.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.19 and a current ratio of 6.20.

Hedge Funds Weigh In On CureVac

Several large investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new stake in shares of CureVac during the third quarter worth $30,000. Integrated Wealth Concepts LLC bought a new stake in shares of CureVac during the 3rd quarter valued at about $35,000. International Assets Investment Management LLC acquired a new stake in CureVac during the third quarter worth about $35,000. Bank of New York Mellon Corp bought a new position in CureVac in the second quarter worth about $54,000. Finally, Ballentine Partners LLC boosted its stake in CureVac by 58.6% in the third quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock valued at $67,000 after acquiring an additional 8,406 shares during the period. 17.26% of the stock is currently 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.