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

CureVac (NASDAQ:CVAC) gapped down prior to trading on Friday . The stock had previously closed at $2.99, but opened at $2.86. CureVac shares last traded at $2.92, with a volume of 97,591 shares trading hands.

Wall Street Analysts Forecast Growth

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

CureVac Stock Performance

The stock has a fifty day moving average of $2.84 and a 200-day moving average of $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 stock has a market cap of $653.73 million, a PE ratio of 5.31, a price-to-earnings-growth ratio of 0.24 and a beta of 2.59.

Hedge Funds Weigh In On CureVac

A number of large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of CureVac in the 2nd quarter valued at approximately $54,000. Signaturefd LLC lifted its holdings in CureVac by 232.0% in the second quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock valued at $75,000 after acquiring an additional 15,403 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of CureVac by 99.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock worth $147,000 after purchasing an additional 21,999 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of CureVac during the 2nd quarter worth $108,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of CureVac in the 2nd quarter valued at about $8,237,000. Hedge funds and other 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.