CureVac (NASDAQ:CVAC) Shares Down 5.1% – Should You Sell?

CureVac (NASDAQ:CVAC) shares traded down 5.1% during mid-day trading on Tuesday . The stock traded as low as $2.62 and last traded at $2.63. 95,297 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 835,215 shares. The stock had previously closed at $2.77.

Analysts Set New Price Targets

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

CureVac Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 6.20 and a quick ratio of 6.19. The company has a market cap of $608.95 million, a P/E ratio of 5.04, a P/E/G ratio of 0.22 and a beta of 2.61. The business has a 50-day moving average of $2.86 and a two-hundred day moving average of $3.25.

Institutional Investors Weigh In On CureVac

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. purchased a new position in CureVac in the second quarter valued at $8,237,000. Signaturefd LLC increased its position in CureVac by 232.0% during the 2nd quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock worth $75,000 after purchasing an additional 15,403 shares during the period. Tidal Investments LLC acquired a new position in CureVac during the 1st quarter worth approximately $175,000. China Universal Asset Management Co. Ltd. boosted its stake 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 worth $127,000 after acquiring an additional 16,792 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in CureVac by 99.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock valued at $147,000 after buying an additional 21,999 shares in the last quarter. Institutional investors and hedge funds 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.