Geode Capital Management LLC Lowers Position in CureVac (NASDAQ:CVAC)

Geode Capital Management LLC lessened its position in CureVac (NASDAQ:CVAC) by 16.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 219,259 shares of the company’s stock after selling 41,971 shares during the quarter. Geode Capital Management LLC owned approximately 0.10% of CureVac worth $645,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC purchased a new position in shares of CureVac in the 3rd quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in CureVac during the third quarter valued at $35,000. Integrated Wealth Concepts LLC purchased a new position in CureVac during the third quarter valued at $35,000. Bank of New York Mellon Corp purchased a new position in CureVac during the second quarter valued at $54,000. Finally, Barclays PLC purchased a new position in CureVac during the third quarter valued at $67,000. Hedge funds and other institutional investors own 17.26% of the company’s stock.

CureVac Stock Down 0.5 %

Shares of NASDAQ:CVAC opened at $4.21 on Friday. The stock has a fifty day simple moving average of $3.09 and a two-hundred day simple moving average of $3.15. The stock has a market capitalization of $942.53 million, a price-to-earnings ratio of 7.65, a PEG ratio of 0.24 and a beta of 2.50. CureVac has a 12-month low of $2.21 and a 12-month high of $5.28. The company has a current ratio of 6.20, a quick ratio of 6.19 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

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

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.