CureVac (NASDAQ:CVAC) Shares Up 5.3% - Here's What Happened

Shares of CureVac (NASDAQ:CVAC - Get Free Report) traded up 5.3% on Thursday . The company traded as high as $4.56 and last traded at $4.68. 43,321 shares were traded during trading, a decline of 94% from the average session volume of 742,622 shares. The stock had previously closed at $4.44.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CVAC shares. UBS Group lowered their target price on shares of CureVac from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. JMP Securities restated a "market outperform" rating and set a $10.00 price objective on shares of CureVac in a report on Wednesday.

CureVac Stock Down 2.2%

The company has a market cap of $1.02 billion, a PE ratio of 8.24 and a beta of 2.43. The business has a fifty day simple moving average of $3.38 and a two-hundred day simple moving average of $3.34. 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 announced its earnings results on Thursday, May 22nd. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.08). The firm had revenue of $0.94 million for the quarter, compared to analysts' expectations of $4.27 million. CureVac had a net margin of 20.72% and a return on equity of 21.98%. As a group, equities research analysts predict that CureVac will post 0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC lifted its position in shares of CureVac by 10.3% in 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. Alyeska Investment Group L.P. grew its stake in CureVac by 25.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 500,000 shares of the company's stock valued at $1,705,000 after purchasing an additional 100,000 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of CureVac in the 1st quarter worth approximately $853,000. Geode Capital Management LLC grew its position in shares of CureVac by 10.3% in the 4th quarter. Geode Capital Management LLC now owns 241,750 shares of the company's stock worth $824,000 after acquiring an additional 22,491 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of CureVac by 35.9% in the 1st quarter. Deutsche Bank AG now owns 230,813 shares of the company's stock worth $639,000 after purchasing an additional 60,941 shares during the last quarter. Institutional investors and hedge funds own 17.26% of the company's stock.

About CureVac

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.