CureVac (NASDAQ:CVAC) Stock Price Down 4.7% - What's Next?

CureVac (NASDAQ:CVAC - Get Free Report) shares dropped 4.7% during mid-day trading on Wednesday . The stock traded as low as $4.47 and last traded at $4.48. Approximately 393,598 shares changed hands during trading, a decline of 46% from the average daily volume of 732,341 shares. The stock had previously closed at $4.70.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $10.00 target price on shares of CureVac in a report on Wednesday, May 28th. UBS Group reduced their target price on shares of CureVac from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th.

CureVac Trading Up 0.5%

The company's fifty day moving average is $3.49 and its two-hundred day moving average is $3.38. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 8.11 and a beta of 2.49. The company has a quick ratio of 6.19, a current ratio of 6.20 and a debt-to-equity ratio of 0.05.

CureVac (NASDAQ:CVAC - Get Free Report) last issued 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 firm had revenue of $0.94 million during the quarter, compared to analyst estimates of $4.27 million. CureVac had a net margin of 20.72% and a return on equity of 21.98%. On average, research analysts predict that CureVac will post 0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On CureVac

Hedge funds have recently added to or reduced their stakes in the stock. Greenleaf Trust purchased a new position in CureVac in the first quarter valued at approximately $31,000. Two Sigma Advisers LP purchased a new position in CureVac in the fourth quarter valued at approximately $48,000. Integrated Wealth Concepts LLC increased its stake in CureVac by 25.0% in the first 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 last quarter. Jump Financial LLC purchased a new position in CureVac in the fourth quarter valued at approximately $55,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in CureVac in the fourth quarter valued at approximately $66,000. 17.26% of the stock is currently owned by hedge funds and other 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.