JMP Securities Reiterates Market Outperform Rating for CureVac (NASDAQ:CVAC)

JMP Securities reiterated their market outperform rating on shares of CureVac (NASDAQ:CVAC) in a report published on Monday, Benzinga reports. They currently have a $16.00 target price on the stock.

CureVac Trading Up 0.3 %

NASDAQ:CVAC opened at $3.29 on Monday. The stock has a market cap of $736.57 million, a PE ratio of -2.47, a price-to-earnings-growth ratio of 2.15 and a beta of 2.62. CureVac has a fifty-two week low of $2.21 and a fifty-two week high of $8.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.29 and a quick ratio of 2.28. The stock’s 50-day moving average is $3.34 and its two-hundred day moving average is $3.28.

CureVac (NASDAQ:CVAC) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). CureVac had a negative net margin of 422.66% and a negative return on equity of 57.18%. The company had revenue of $15.55 million for the quarter, compared to analysts’ expectations of $10.07 million. As a group, equities research analysts forecast that CureVac will post 0.05 earnings per share for the current fiscal year.

Institutional Trading of CureVac

Several hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in CureVac in the 2nd quarter worth about $8,237,000. Platinum Investment Management Ltd. raised its position in CureVac by 37.1% during the fourth quarter. Platinum Investment Management Ltd. now owns 497,906 shares of the company’s stock valued at $2,096,000 after acquiring an additional 134,626 shares in the last quarter. Jump Financial LLC bought a new position in CureVac during the fourth quarter valued at approximately $346,000. Tidal Investments LLC acquired a new stake in CureVac in the first quarter valued at approximately $175,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in CureVac in the fourth quarter worth approximately $160,000. 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.