CureVac (NASDAQ:CVAC) Trading Up 5.7% – Time to Buy?

CureVac (NASDAQ:CVAC)’s stock price shot up 5.7% during mid-day trading on Friday . The stock traded as high as $4.52 and last traded at $4.47. 876,726 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 2,196,451 shares. The stock had previously closed at $4.23.

Analyst Ratings Changes

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

CureVac Stock Up 2.8 %

The firm’s 50-day simple moving average is $3.06 and its 200-day simple moving average is $3.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.19 and a current ratio of 6.20. The company has a market capitalization of $973.88 million, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 0.24 and a beta of 2.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in shares of CureVac in the 2nd quarter valued at $8,237,000. Jane Street Group LLC lifted its stake in CureVac by 239.0% during the third quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock worth $235,000 after purchasing an additional 55,867 shares during the period. XTX Topco Ltd bought a new stake in shares of CureVac in the 2nd quarter valued at approximately $108,000. Public Employees Retirement System of Ohio bought a new stake in shares of CureVac in the 3rd quarter valued at approximately $91,000. Finally, Barclays PLC acquired a new position in shares of CureVac in the 3rd quarter worth approximately $67,000. 17.26% of the stock is currently owned by institutional investors and hedge funds.

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.