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

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

Analysts Set New Price Targets

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

CureVac Trading Down 0.5 %

The company has a market capitalization of $942.53 million, a P/E ratio of 7.65, a P/E/G ratio of 0.24 and a beta of 2.50. The company has a 50-day simple moving average of $3.09 and a 200 day simple moving average of $3.15. 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

A number of institutional investors and hedge funds have recently bought and sold shares of CVAC. Point72 Asset Management L.P. bought a new stake in CureVac in the 2nd quarter valued at $8,237,000. Public Employees Retirement System of Ohio acquired a new position in shares of CureVac during the third quarter valued at about $91,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of CureVac by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 43,143 shares of the company’s stock valued at $127,000 after buying an additional 16,792 shares during the period. Barclays PLC acquired a new stake in CureVac during the third quarter worth about $67,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in CureVac by 99.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock valued at $147,000 after acquiring an additional 21,999 shares during the period. 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.