CureVac (NASDAQ:CVAC) Trading Down 9.9% – Here’s Why

CureVac N.V. (NASDAQ:CVAC) shares traded down 9.9% on Wednesday . The company traded as low as $4.51 and last traded at $4.3450. 225,781 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 899,852 shares. The stock had previously closed at $4.82.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of CureVac in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.83.

CureVac Price Performance

The business’s 50 day moving average is $5.22 and its two-hundred day moving average is $5.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.69 and a current ratio of 3.70. The firm has a market capitalization of $933.25 million, a PE ratio of 5.78 and a beta of 1.77.

CureVac (NASDAQ:CVAC) last posted its earnings results on Monday, November 24th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.07. The firm had revenue of $63.53 million for the quarter, compared to the consensus estimate of $21.40 million. CureVac had a negative return on equity of 23.03% and a net margin of 199.92%. Equities research analysts anticipate that CureVac N.V. will post 0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CureVac

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its holdings in shares of CureVac by 354.8% in the second quarter. Caitong International Asset Management Co. Ltd now owns 5,608 shares of the company’s stock worth $30,000 after buying an additional 4,375 shares in the last quarter. Headlands Technologies LLC purchased a new stake in CureVac in the 2nd quarter worth approximately $35,000. Kathmere Capital Management LLC purchased a new stake in CureVac in the 2nd quarter worth approximately $60,000. L2 Asset Management LLC bought a new position in CureVac in the 2nd quarter valued at $70,000. Finally, Integrated Wealth Concepts LLC boosted its holdings in CureVac by 25.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 15,000 shares of the company’s stock valued at $42,000 after purchasing an additional 3,000 shares during the period. 17.26% of the stock is currently owned by institutional investors.

About CureVac

CureVac N.V. is a clinical-stage biopharmaceutical company that specializes in the research, development and commercialization of messenger RNA (mRNA)-based medicines and vaccines. Leveraging its proprietary mRNA platform, the company seeks to harness the body’s natural protein production processes to address a range of diseases, with particular emphasis on prophylactic vaccines for infectious diseases as well as therapeutic candidates in oncology. CureVac’s technology is designed to deliver optimized mRNA sequences for in vivo expression, aiming to improve stability, translational efficiency and immunogenicity compared with conventional approaches.

Founded in 2000 and headquartered in Tübingen, Germany, CureVac has built a pipeline spanning early- to late-stage clinical programs.