CureVac (NASDAQ:CVAC) Receives Market Outperform Rating from JMP Securities

CureVac (NASDAQ:CVAC) has had its "market outperform" rating reaffirmed by analysts at JMP Securities in a recent research note, as reported by Benzinga. They have assigned a target price of $16.00 for the shares of CureVac, representing an impressive potential upside of 341.38% when compared to the stock's last closing price.

CureVac Stock Performance

During midday trading on Friday, CureVac's stock experienced a slight decline of $0.03, bringing the price down to $3.63. The trading volume for the day was 77,515 shares, significantly lower than the average volume of 998,061. Currently, the company's 50-day simple moving average stands at $3.60, while the 200-day simple moving average is at $3.22. Moreover, CureVac holds a market capitalization of approximately $811.57 million, boasts a price-to-earnings ratio of 6.62, and has a beta of 2.51. The company has maintained a strong current ratio of 6.20 and a quick ratio of 6.19, with a minimal debt-to-equity ratio of 0.05. Over the past year, CureVac has seen stock prices fluctuate between a low of $2.21 and a high of $5.28.

Institutional Investors and CureVac

Recent activity among institutional investors shows a growing interest in CureVac. For instance, China Universal Asset Management Co. Ltd. increased its stake by 10.3% during the fourth quarter, acquiring an additional 4,425 shares for a total of 47,568 shares, worth around $162,000. Additionally, Signaturefd LLC raised its holdings by 26.9% in the third quarter, now owning 27,970 shares valued at approximately $82,000 after buying 5,927 more shares. Another notable increase came from Ballentine Partners LLC, which raised its position by an impressive 58.6% in the same quarter, acquiring an additional 8,406 shares to hold a total of 22,755 shares valued at $67,000. Private Advisor Group LLC also made its move by purchasing a new position valued at about $30,000. Lastly, XTX Topco Ltd. expanded its holdings by 90.2%, now owning 24,365 shares after acquiring 11,553 shares during the fourth quarter. It is worth mentioning that institutional investors and hedge funds currently own around 17.26% of CureVac's stock.

About CureVac

CureVac N.V. is a biopharmaceutical company dedicated to developing a variety of innovative medicines based on messenger ribonucleic acid (mRNA). The organization is currently working on developing several prophylactic vaccines, including the mRNA-based vaccine candidates CV2CoV, which is in Phase 1 clinical trials aimed at combating SARS-CoV-2. Other candidates include CV7202, designed for rabies treatment, and CVSQIV, which targets the treatment of seasonal influenza.

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