CureVac (NASDAQ:CVAC) Sees Large Volume Increase – Here’s What Happened

Shares of CureVac (NASDAQ:CVAC) saw unusually-strong trading volume on Tuesday . Approximately 1,377,593 shares were traded 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.

Analyst Upgrades and Downgrades

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

CureVac Stock Down 9.6 %

The business’s fifty day simple moving average is $3.03 and its 200 day simple moving average is $3.14. The company has a current ratio of 6.20, a quick ratio of 6.19 and a debt-to-equity ratio of 0.05. The stock has a market cap of $947.01 million, a price-to-earnings ratio of 7.69, a price-to-earnings-growth ratio of 0.24 and a beta of 2.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Signaturefd LLC raised its stake in shares of CureVac by 26.9% in the 3rd quarter. Signaturefd LLC now owns 27,970 shares of the company’s stock valued at $82,000 after purchasing an additional 5,927 shares during the period. Green Alpha Advisors LLC lifted its stake in CureVac by 41.3% in the 3rd quarter. Green Alpha Advisors LLC now owns 27,319 shares of the company’s stock valued at $80,000 after acquiring an additional 7,979 shares in the last quarter. Ballentine Partners LLC boosted its position in CureVac by 58.6% during the 3rd quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock worth $67,000 after acquiring an additional 8,406 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of CureVac during the 3rd quarter worth approximately $30,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of CureVac in the third quarter valued at approximately $35,000. 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.