CureVac (NASDAQ:CVAC) Shares Gap Up to $9.48

CureVac (NASDAQ:CVACGet Rating) gapped up before the market opened on Thursday . The stock had previously closed at $9.48, but opened at $10.35. CureVac shares last traded at $9.74, with a volume of 41,520 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CVAC shares. JMP Securities decreased their price objective on CureVac from $37.00 to $34.00 and set a “market outperform” rating for the company in a research note on Thursday, November 17th. UBS Group upgraded CureVac from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Thursday. They noted that the move was a valuation call. Finally, Jefferies Financial Group upgraded CureVac from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Friday, January 6th.

CureVac Price Performance

The business has a 50 day simple moving average of $7.82 and a 200 day simple moving average of $9.48. The company has a quick ratio of 3.56, a current ratio of 3.61 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Parametrica Management Ltd acquired a new position in shares of CureVac in the second quarter valued at about $184,000. Rafferty Asset Management LLC acquired a new position in shares of CureVac in the second quarter valued at about $1,072,000. Martingale Asset Management L P increased its holdings in shares of CureVac by 18.9% in the second quarter. Martingale Asset Management L P now owns 48,812 shares of the company’s stock valued at $665,000 after purchasing an additional 7,770 shares during the period. MQS Management LLC acquired a new position in shares of CureVac in the second quarter valued at about $220,000. Finally, Swiss National Bank acquired a new position in shares of CureVac in the second quarter valued at about $1,786,000.

About CureVac

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CureVac N.V., a clinical-stage 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, a prophylactic mRNA-based vaccine, which has completed Phase 1 clinical trial for rabies virus glycoprotein; and CVSQIV, which is in Phase 1 clinical trial against influenza, as well as vaccine for lassa fever, yellow fever, respiratiory syncytial virus, rotavirus, malaria, and universal influenza.

Further Reading

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