CureVac (NASDAQ:CVAC) Earns Market Outperform Rating from JMP Securities

CureVac (NASDAQ:CVAC)‘s stock had its “market outperform” rating reissued by research analysts at JMP Securities in a note issued to investors on Friday,Benzinga reports. They presently have a $16.00 price objective on the stock. JMP Securities’ price objective points to a potential upside of 341.38% from the stock’s previous close.

CureVac Stock Performance

CVAC traded down $0.03 during midday trading on Friday, hitting $3.63. 77,515 shares of the company were exchanged, compared to its average volume of 998,061. The company’s 50 day simple moving average is $3.60 and its 200 day simple moving average is $3.22. The firm has a market capitalization of $811.57 million, a price-to-earnings ratio of 6.62 and a beta of 2.51. The company has a current ratio of 6.20, a quick ratio of 6.19 and a debt-to-equity ratio of 0.05. CureVac has a 1-year low of $2.21 and a 1-year high of $5.28.

Institutional Investors Weigh In On CureVac

Institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its position in CureVac by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 47,568 shares of the company’s stock worth $162,000 after acquiring an additional 4,425 shares during the last quarter. Signaturefd LLC boosted its holdings in 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 last quarter. Ballentine Partners LLC boosted its holdings in CureVac by 58.6% in the 3rd quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock valued at $67,000 after purchasing an additional 8,406 shares during the last quarter. Private Advisor Group LLC acquired a new position in CureVac in the 3rd quarter valued at about $30,000. Finally, XTX Topco Ltd boosted its holdings in CureVac by 90.2% in the 4th quarter. XTX Topco Ltd now owns 24,365 shares of the company’s stock valued at $83,000 after purchasing an additional 11,553 shares during the last quarter. 17.26% of the stock is currently owned by institutional investors and hedge funds.

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.