CureVac (NASDAQ:CVAC) Trading Down 5.5% – Here’s Why

Posted by Lindsey Winhoffer on Dec 17th, 2024

CureVac (NASDAQ:CVAC – Get Free Report)’s share price traded down 5.5% on Tuesday . The stock 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.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on CVAC

CureVac Stock Performance

The company has a market capitalization of $667.16 million, a PE ratio of 5.27, a PEG ratio of 0.24 and a beta of 2.59. 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 company has a 50-day moving average price of $2.84 and a two-hundred day moving average price of $3.20.

Institutional Trading of CureVac

Hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC purchased a new position in shares of CureVac in the third quarter valued at about $30,000. International Assets Investment Management LLC purchased a new stake in shares of CureVac in the third quarter valued at approximately $35,000. Integrated Wealth Concepts LLC purchased a new position in CureVac during the 3rd quarter valued at about $35,000. Bank of New York Mellon Corp purchased a new stake in shares of CureVac during the second quarter valued at about $54,000. Finally, Ballentine Partners LLC raised its stake in CureVac by 58.6% in the third quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock valued at $67,000 after buying an additional 8,406 shares during the last quarter. 17.26% of the stock is owned by institutional investors.

CureVac Company Profile

(Get Free Report)

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.