CureVac (NASDAQ:CVAC) Stock Price Down 5% - Here's Why

CureVac (NASDAQ:CVAC - Get Free Report) shares dropped 5% during mid-day trading on Tuesday . The stock traded as low as $4.25 and last traded at $4.26. Approximately 466,009 shares traded hands during trading, a decline of 34% from the average daily volume of 701,239 shares. The stock had previously closed at $4.48.

Analysts Set New Price Targets

Several analysts have weighed in on CVAC shares. JMP Securities reiterated a "market outperform" rating and set a $10.00 target price on shares of CureVac in a research note on Wednesday, May 28th. UBS Group lowered their price objective on shares of CureVac from $13.00 to $12.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th.

CureVac Trading Down 4.7%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.19 and a current ratio of 6.20. The firm has a market cap of $913.06 million, a P/E ratio of 7.40 and a beta of 2.49. The firm has a fifty day moving average of $3.62 and a 200-day moving average of $3.44.

CureVac (NASDAQ:CVAC - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $0.94 million during the quarter, compared to analyst estimates of $4.27 million. CureVac had a return on equity of 21.98% and a net margin of 20.72%. Equities research analysts forecast that CureVac will post 0.72 earnings per share for the current year.

Institutional Trading of CureVac

Several hedge funds have recently added to or reduced their stakes in the business. Plato Investment Management Ltd acquired a new position in shares of CureVac during the first quarter valued at $84,000. Millennium Management LLC lifted its stake in shares of CureVac by 10.3% in the 1st quarter. Millennium Management LLC now owns 1,816,984 shares of the company's stock worth $5,033,000 after acquiring an additional 169,947 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of 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 acquiring an additional 3,000 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of CureVac during the first quarter valued at approximately $142,000. Finally, State of Wyoming bought a new stake in CureVac during the first quarter worth approximately $317,000. 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.