CureVac (NASDAQ:CVAC) Sees Strong Trading Volume – Here’s What Happened

CureVac (NASDAQ:CVAC) shares saw strong trading volume on Tuesday . 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 Ratings Changes

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

CureVac Stock Performance

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. The stock’s 50-day simple moving average is $3.03 and its two-hundred day simple moving average is $3.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.19 and a current ratio of 6.20.

Institutional Trading of CureVac

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC bought a new position in shares of CureVac during the 3rd quarter worth about $30,000. International Assets Investment Management LLC bought a new position in CureVac during the third quarter valued at about $35,000. Integrated Wealth Concepts LLC acquired a new position in CureVac in the 3rd quarter valued at approximately $35,000. Bank of New York Mellon Corp bought a new stake in shares of CureVac in the 2nd quarter worth approximately $54,000. Finally, Ballentine Partners LLC grew its holdings in shares of 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 purchasing an additional 8,406 shares in the last quarter. Institutional investors and hedge funds own 17.26% of the company’s stock.

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.