CureVac (NASDAQ:CVAC) Shares Gap Up – Here’s Why

Shares of CureVac (NASDAQ:CVAC) gapped up before the market opened on Thursday . The stock had previously closed at $4.07, but opened at $5.36. CureVac shares last traded at $5.39, with a volume of 9,523,255 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVAC. Jefferies Financial Group reiterated a “hold” rating and set a $5.00 price target (down previously from $7.00) on shares of CureVac in a research note on Friday. UBS Group cut their price target on CureVac from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $10.00 price target on shares of CureVac in a research note on Wednesday, May 28th.

CureVac Price Performance

The business has a 50 day moving average price of $3.76 and a two-hundred day moving average price of $3.48. The stock has a market cap of $1.25 billion, a PE ratio of 10.13 and a beta of 2.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.19 and a current ratio of 6.20.

CureVac (NASDAQ:CVAC) last announced its earnings results on Thursday, May 22nd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). CureVac had a return on equity of 21.98% and a net margin of 20.72%. The business had revenue of $0.94 million during the quarter, compared to analysts’ expectations of $4.27 million. Research analysts expect that CureVac will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CureVac

Hedge funds and other institutional investors have recently modified their holdings of the business. Greenleaf Trust purchased a new position in shares of CureVac in the 1st quarter worth approximately $31,000. Integrated Wealth Concepts LLC boosted its stake in shares of CureVac by 25.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 15,000 shares of the company’s stock worth $42,000 after buying an additional 3,000 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of CureVac in the 4th quarter worth approximately $48,000. Jump Financial LLC bought a new stake in shares of CureVac in the 4th quarter worth approximately $55,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of CureVac in the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 17.26% of the company’s stock.

CureVac Company Profile

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.