CureVac (NASDAQ:CVAC) Stock Price Down 5.1% – Here’s What Happened

CureVac (NASDAQ:CVAC)’s stock price traded down 5.1% during trading on Tuesday . The stock traded as low as $2.62 and last traded at $2.63. 95,297 shares changed hands during trading, a decline of 89% from the average session volume of 835,215 shares. The stock had previously closed at $2.77.

Analyst Upgrades and Downgrades

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

CureVac Stock Performance

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 stock’s fifty day moving average price is $2.84 and its 200-day moving average price is $3.25. The company has a market capitalization of $642.54 million, a P/E ratio of 5.22, a PEG ratio of 0.23 and a beta of 2.61.

Institutional Investors Weigh In On CureVac

A number of institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC bought a new stake in shares of CureVac in the 3rd quarter valued at about $67,000. Public Employees Retirement System of Ohio bought a new position in CureVac in the 3rd quarter valued at about $91,000. Jane Street Group LLC raised its holdings in CureVac by 239.0% in the 3rd quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock valued at $235,000 after acquiring an additional 55,867 shares during the period. Integrated Wealth Concepts LLC bought a new position in CureVac in the 3rd quarter valued at about $35,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in CureVac by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 43,143 shares of the company’s stock valued at $127,000 after acquiring an additional 16,792 shares during the period. 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.