CureVac (NASDAQ:CVAC) Trading Down 5.5% – Time to Sell?

CureVac (NASDAQ:CVAC)’s stock price traded down 5.5% on Tuesday . The company traded as low as $2.92 and last traded at $2.93. 123,255 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 817,969 shares. The stock had previously closed at $3.10.

Wall Street Analyst Weigh In

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

CureVac Stock Up 8.7 %

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 stock has a market cap of $669.40 million, a price-to-earnings ratio of 5.44, a price-to-earnings-growth ratio of 0.24 and a beta of 2.59. The business’s 50 day moving average is $2.84 and its 200 day moving average is $3.19.

Institutional Investors Weigh In On CureVac

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in shares of CureVac in the second quarter worth approximately $54,000. Signaturefd LLC increased its stake in CureVac by 232.0% in the 2nd quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock valued at $75,000 after buying an additional 15,403 shares during the period. Vanguard Personalized Indexing Management LLC increased 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 during the period. XTX Topco Ltd purchased a new stake in CureVac in the 2nd quarter worth approximately $108,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of CureVac during the 2nd quarter valued at $8,237,000. 17.26% of the stock is currently owned by institutional investors and hedge funds.

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.