CureVac (NASDAQ:CVAC) Sees Unusually-High Trading Volume – Time to Buy?

Shares of CureVac (NASDAQ:CVAC) saw strong trading volume on Tuesday . 1,377,593 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 1,689,576 shares.The stock last traded at $4.93 and had previously closed at $4.44.

Analysts Set New Price Targets

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

CureVac Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.19 and a current ratio of 6.20. The business has a 50 day simple moving average of $2.96 and a 200-day simple moving average of $3.12. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 8.55, a P/E/G ratio of 0.24 and a beta of 2.50.

Institutional Investors Weigh In On CureVac

A number of institutional investors have recently added to or reduced their stakes in CVAC. Point72 Asset Management L.P. bought a new position in CureVac in the 2nd quarter valued at $8,237,000. Jane Street Group LLC raised its position in CureVac by 239.0% in the third quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock worth $235,000 after acquiring an additional 55,867 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in CureVac by 99.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock valued at $147,000 after acquiring an additional 21,999 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of CureVac by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 43,143 shares of the company’s stock valued at $127,000 after acquiring an additional 16,792 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of CureVac during the 2nd quarter worth approximately $108,000. 17.26% of the stock is owned by 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.