CureVac (NASDAQ:CVAC) Shares Gap Up - Time to Buy?

CureVac (NASDAQ:CVAC - Get Free Report)'s share price gapped up prior to trading 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.

Analysts Set New Price Targets

CVAC has been the topic of several research reports. UBS Group dropped their price objective on shares of CureVac from $13.00 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group restated 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. Finally, JMP Securities restated a "market outperform" rating and set a $10.00 price target on shares of CureVac in a research note on Wednesday, May 28th.

CureVac Stock Down 0.5%

The business's fifty day moving average price is $3.76 and its 200 day moving average price is $3.49. The company has a market capitalization of $1.25 billion, a P/E ratio of 10.13 and a beta of 2.49. The company has a current ratio of 6.20, a quick ratio of 6.19 and a debt-to-equity ratio of 0.05.

CureVac (NASDAQ:CVAC - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.08). The business had revenue of $0.94 million for the quarter, compared to the consensus estimate of $4.27 million. CureVac had a return on equity of 21.98% and a net margin of 20.72%. As a group, equities research analysts predict that CureVac will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CureVac

Several institutional investors have recently added to or reduced their stakes in CVAC. GSA Capital Partners LLP bought a new position in CureVac during the 1st quarter valued at about $853,000. BNP Paribas Financial Markets bought a new position in CureVac during the 4th quarter valued at about $585,000. Millennium Management LLC lifted its holdings in CureVac by 10.3% during the 1st quarter. Millennium Management LLC now owns 1,816,984 shares of the company's stock valued at $5,033,000 after purchasing an additional 169,947 shares during the last quarter. Two Sigma Investments LP bought a new position in CureVac during the 4th quarter valued at about $391,000. Finally, State of Wyoming bought a new position in CureVac during the 1st quarter valued at about $317,000. 17.26% of the stock is owned by institutional investors.

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.