CureVac (NASDAQ:CVAC) Shares Gap Down – Time to Sell?

CureVac (NASDAQ:CVAC) gapped down prior to trading on Wednesday . The stock had previously closed at $2.88, but opened at $2.80. CureVac shares last traded at $2.81, with a volume of 83,628 shares.

Analyst Upgrades and Downgrades

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

CureVac Trading Down 2.9 %

The stock has a market cap of $597.76 million, a PE ratio of 5.00, a PEG ratio of 2.04 and a beta of 2.61. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $2.93 and a two-hundred day simple moving average of $3.26.

CureVac (NASDAQ:CVAC) last announced its earnings results on Thursday, August 15th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). CureVac had a net margin of 20.72% and a return on equity of 25.55%. The company had revenue of $15.55 million during the quarter, compared to analysts’ expectations of $10.07 million. As a group, equities analysts expect that CureVac will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CureVac

Several hedge funds have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its position in CureVac by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 43,143 shares of the company’s stock valued at $127,000 after purchasing an additional 16,792 shares during the last quarter. Ballentine Partners LLC lifted its position in CureVac by 58.6% during the third quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock valued at $67,000 after purchasing an additional 8,406 shares during the last quarter. International Assets Investment Management LLC bought a new stake in CureVac during the third quarter valued at approximately $35,000. Private Advisor Group LLC bought a new stake in CureVac during the third quarter valued at approximately $30,000. Finally, Signaturefd LLC lifted its position in CureVac by 26.9% during the third quarter. Signaturefd LLC now owns 27,970 shares of the company’s stock valued at $82,000 after purchasing an additional 5,927 shares during 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.