CureVac’s (CVAC) “Market Outperform” Rating Reiterated at JMP Securities

CureVac (NASDAQ:CVAC)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a note issued to investors on Wednesday, Benzinga reports. They currently have a $18.00 target price on the stock. JMP Securities’ price objective would indicate a potential upside of 476.92% from the company’s current price.

A number of other brokerages have also issued reports on CVAC. Leerink Partnrs lowered shares of CureVac from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th. Guggenheim reissued a “neutral” rating on shares of CureVac in a research note on Friday, April 5th. Finally, SVB Leerink cut shares of CureVac from an “outperform” rating to a “market perform” rating and decreased their price target 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 assigned a buy rating to the company. According to data from MarketBeat, CureVac currently has an average rating of “Hold” and an average price target of $10.00.

CureVac Trading Down 6.6 %

CVAC stock traded down $0.22 on Wednesday, hitting $3.12. 7,922,070 shares of the company were exchanged, compared to its average volume of 1,044,477. CureVac has a twelve month low of $2.21 and a twelve month high of $10.77. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.25 and a quick ratio of 2.09. The business’s fifty day moving average is $3.44 and its two-hundred day moving average is $3.46. The stock has a market capitalization of $698.51 million, a price-to-earnings ratio of -2.35 and a beta of 2.64.

CureVac (NASDAQ:CVAC) last posted its quarterly earnings data on Thursday, May 23rd. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.12). CureVac had a negative net margin of 463.49% and a negative return on equity of 49.22%. The company had revenue of $13.43 million for the quarter, compared to the consensus estimate of $14.51 million. As a group, research analysts forecast that CureVac will post -1.11 earnings per share for the current year.

Hedge Funds Weigh In On CureVac

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Platinum Investment Management Ltd. increased its position in CureVac by 25.9% during the first quarter. Platinum Investment Management Ltd. now owns 626,684 shares of the company’s stock valued at $1,899,000 after acquiring an additional 128,778 shares during the last quarter. Jump Financial LLC purchased a new stake in CureVac during the fourth quarter valued at approximately $346,000. Deutsche Bank AG raised its holdings in shares of CureVac by 5.1% in the third quarter. Deutsche Bank AG now owns 72,510 shares of the company’s stock worth $495,000 after buying an additional 3,491 shares during the period. Tidal Investments LLC purchased a new position in CureVac during the 1st quarter worth $175,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 in the last quarter. 17.26% of the stock is currently 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.