CureVac (NASDAQ:CVAC) Stock Price Up 6.4% – Here’s Why

CureVac (NASDAQ:CVAC) traded up 6.4% on Friday . The company traded as high as $3.66 and last traded at $3.65. 408,642 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 801,007 shares. The stock had previously closed at $3.43.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price objective on shares of CureVac in a research note on Friday, February 14th. UBS Group decreased their target price on CureVac from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th.

CureVac Stock Up 8.8%

The company has a debt-to-equity ratio of 0.05, a current ratio of 6.20 and a quick ratio of 6.19. The company has a market capitalization of $834.54 million, a PE ratio of 6.76 and a beta of 2.43. The business has a 50-day moving average of $3.14 and a 200 day moving average of $3.24.

CureVac (NASDAQ:CVAC) last posted its earnings results on Thursday, April 10th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $15.44 million during the quarter, compared to analysts’ expectations of $6.40 million. CureVac had a return on equity of 21.98% and a net margin of 20.72%. Equities research analysts predict that CureVac will post 0.72 earnings per share for the current year.

Institutional Investors Weigh In On CureVac

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Greenleaf Trust purchased a new stake in CureVac during the first quarter valued at approximately $31,000. Two Sigma Advisers LP purchased a new stake in CureVac during the fourth quarter valued at approximately $48,000. Integrated Wealth Concepts LLC raised its position in CureVac by 25.0% during the first quarter. Integrated Wealth Concepts LLC now owns 15,000 shares of the company’s stock valued at $42,000 after purchasing an additional 3,000 shares during the period. Jump Financial LLC purchased a new stake in CureVac during the fourth quarter valued at approximately $55,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in CureVac during the fourth quarter valued at approximately $66,000. 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.