CureVac (NASDAQ:CVAC) Shares Gap Down - What's Next?

Shares of CureVac (NASDAQ:CVAC - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $4.28, but opened at $4.13. CureVac shares last traded at $4.21, with a volume of 217,125 shares traded.

Analysts Set New Price Targets

CVAC has been the topic of several research reports. UBS Group lowered their price objective on shares of CureVac from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price objective on shares of CureVac in a research report on Friday, February 14th.

CureVac Price Performance

The stock has a market cap of $917.54 million, a PE ratio of 7.44 and a beta of 2.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.20 and a quick ratio of 6.19. The firm's 50 day moving average price is $3.24 and its two-hundred day moving average price is $3.29.

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

Hedge Funds Weigh In On CureVac

Several large investors have recently modified their holdings of the business. Plato Investment Management Ltd purchased a new position in shares of CureVac in the first quarter worth about $84,000. Millennium Management LLC grew its stake in CureVac by 10.3% during the first quarter. Millennium Management LLC now owns 1,816,984 shares of the company's stock valued at $5,033,000 after acquiring an additional 169,947 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in CureVac by 25.0% during the first quarter. Integrated Wealth Concepts LLC now owns 15,000 shares of the company's stock valued at $42,000 after acquiring an additional 3,000 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in CureVac during the first quarter valued at approximately $142,000. Finally, State of Wyoming purchased a new position in CureVac during the first quarter valued at approximately $317,000. 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.