CureVac (NASDAQ:CVAC) Sees Unusually-High Trading Volume

CureVac (NASDAQ:CVAC) shares saw an uptick in trading volume on Friday . 416,619 shares changed hands during mid-day trading, a decline of 60% from the previous session’s volume of 1,039,334 shares.The stock last traded at $3.28 and had previously closed at $3.12.

Wall Street Analyst Weigh In

Several research firms recently commented on CVAC. JMP Securities reissued a “market outperform” rating and issued a $18.00 price objective on shares of CureVac in a research note on Wednesday. Leerink Partnrs downgraded CureVac from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. Guggenheim reaffirmed a “neutral” rating on shares of CureVac in a research note on Friday, April 5th. Finally, SVB Leerink downgraded CureVac from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $12.00 to $4.00 in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.00.

CureVac Stock Up 4.5 %

The firm has a market capitalization of $729.85 million, a price-to-earnings ratio of -2.47 and a beta of 2.64. The business has a 50 day simple moving average of $3.47 and a 200-day simple moving average of $3.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.09 and a current ratio of 2.25.

CureVac (NASDAQ:CVAC) last issued its earnings results on Thursday, May 23rd. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.12). The company had revenue of $13.43 million during the quarter, compared to analyst estimates of $14.51 million. CureVac had a negative return on equity of 49.22% and a negative net margin of 463.49%. On average, equities analysts expect that CureVac will post -1.11 EPS for the current year.

Hedge Funds Weigh In On CureVac

A number of hedge funds have recently modified their holdings of the business. Deutsche Bank AG grew its holdings in shares of CureVac by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 72,510 shares of the company’s stock worth $495,000 after purchasing an additional 3,491 shares during the period. Federated Hermes Inc. grew its holdings in shares of CureVac by 33.3% during the 3rd quarter. Federated Hermes Inc. now owns 40,000 shares of the company’s stock worth $273,000 after purchasing an additional 10,000 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of CureVac during the 4th quarter worth $45,000. Ballentine Partners LLC purchased a new position in shares of CureVac during the 1st quarter worth $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in CureVac by 45.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,122 shares of the company’s stock valued at $184,000 after acquiring an additional 13,687 shares during the period. 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.