CureVac (NASDAQ:CVAC) Shares Gap Up – Time to Buy?

Shares of CureVac (NASDAQ:CVAC) gapped up prior to trading on Tuesday . The stock had previously closed at $3.00, but opened at $3.08. CureVac shares last traded at $2.97, with a volume of 116,822 shares.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market outperform” rating and set a $16.00 price objective on shares of CureVac in a research report on Friday, February 14th.

CureVac Stock Performance

The business’s fifty day moving average is $3.47 and its 200-day moving average is $3.19. The company has a quick ratio of 6.19, a current ratio of 6.20 and a debt-to-equity ratio of 0.05. The company has a market cap of $654.85 million, a PE ratio of 5.32 and a beta of 2.53.

Institutional Investors Weigh In On CureVac

A number of hedge funds have recently modified their holdings of the business. Barclays PLC bought a new position in CureVac in the 3rd quarter worth $67,000. Public Employees Retirement System of Ohio purchased a new position in shares of CureVac during the 3rd quarter valued at about $91,000. Jane Street Group LLC lifted its position in shares of CureVac by 239.0% during the 3rd quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock valued at $235,000 after buying an additional 55,867 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of CureVac by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 47,568 shares of the company’s stock valued at $162,000 after acquiring an additional 4,425 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in CureVac in the 3rd quarter worth approximately $35,000. Institutional investors own 17.26% of the company’s stock.

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.