CureVac (NASDAQ:CVAC) Shares Gap Up – Should You Buy?

CureVac (NASDAQ:CVAC) shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.89, but opened at $2.95. CureVac shares last traded at $2.89, with a volume of 121,984 shares trading hands.

Wall Street Analyst Weigh In

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

CureVac Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.28 and a current ratio of 2.29. The firm has a market cap of $653.73 million, a P/E ratio of -2.17, a P/E/G ratio of 2.19 and a beta of 2.62. The firm’s fifty day simple moving average is $3.18 and its 200 day simple moving average is $3.26.

CureVac (NASDAQ:CVAC) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.06). The firm had revenue of $15.55 million for the quarter, compared to analysts’ expectations of $10.07 million. CureVac had a negative return on equity of 57.18% and a negative net margin of 422.66%. As a group, analysts forecast that CureVac will post 0.05 earnings per share for the current year.

Hedge Funds Weigh In On CureVac

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Green Alpha Advisors LLC lifted its holdings in shares of 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 during the last quarter. Point72 Asset Management L.P. bought a new position in shares of CureVac during the 2nd quarter valued at approximately $8,237,000. XTX Topco Ltd bought a new position in shares of CureVac during the 2nd quarter valued at approximately $108,000. Vanguard Personalized Indexing Management LLC raised its holdings in CureVac by 99.8% during 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. Finally, Signaturefd LLC boosted its stake in CureVac by 232.0% during the second quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock worth $75,000 after buying an additional 15,403 shares during the period. 17.26% of the stock is owned by hedge funds and other institutional investors.

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.