CureVac (NASDAQ:CVAC) Stock Price Up 6.4% – Here’s Why

CureVac (NASDAQ:CVAC) shares rose 6.4% during trading on Friday . The stock traded as high as $3.66 and last traded at $3.65. Approximately 408,642 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 801,007 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

CVAC has been the subject of several research analyst reports. UBS Group cut their price objective on CureVac from $13.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price objective on shares of CureVac in a report on Friday, February 14th.

CureVac Stock Up 8.8%

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 $834.54 million, a P/E ratio of 6.76 and a beta of 2.43. The company has a fifty day moving average of $3.14 and a 200 day moving average of $3.24.

CureVac (NASDAQ:CVAC) last released its quarterly earnings results on Thursday, April 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). CureVac had a net margin of 20.72% and a return on equity of 21.98%. The company had revenue of $15.44 million for the quarter, compared to the consensus estimate of $6.40 million. On average, research analysts anticipate that CureVac will post 0.72 earnings per share for the current fiscal year.

Institutional Trading of CureVac

Several hedge funds have recently bought and sold shares of CVAC. Barclays PLC bought a new stake in CureVac during the third quarter valued at about $67,000. China Universal Asset Management Co. Ltd. grew its holdings in CureVac by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 47,568 shares of the company’s stock valued at $162,000 after purchasing an additional 4,425 shares during the period. Signaturefd LLC boosted its stake in shares of CureVac by 29.2% in the fourth quarter. Signaturefd LLC now owns 36,140 shares of the company’s stock worth $123,000 after acquiring an additional 8,170 shares during the period. Geode Capital Management LLC boosted its stake in shares of CureVac by 10.3% in the fourth quarter. Geode Capital Management LLC now owns 241,750 shares of the company’s stock worth $824,000 after acquiring an additional 22,491 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of CureVac by 61.8% in the fourth quarter. Quadrant Capital Group LLC now owns 50,016 shares of the company’s stock worth $171,000 after acquiring an additional 19,098 shares during the period. Institutional investors own 17.26% of the company’s stock.

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.