CureVac’s (CVAC) “Market Outperform” Rating Reiterated at JMP Securities

CureVac (NASDAQ:CVAC)‘s stock had its “market outperform” rating restated by research analysts at JMP Securities in a research note issued to investors on Monday, Benzinga reports. They presently have a $16.00 price objective on the stock. JMP Securities’ target price suggests a potential upside of 395.36% from the stock’s previous close.

CureVac Stock Performance

Shares of CVAC stock traded down $0.21 on Monday, hitting $3.23. 116,214 shares of the stock were exchanged, compared to its average volume of 940,855. CureVac has a one year low of $2.21 and a one year high of $8.04. The firm’s 50 day moving average is $3.32 and its two-hundred day moving average is $3.28. The firm has a market capitalization of $723.13 million, a PE ratio of -2.40, a P/E/G ratio of 2.15 and a beta of 2.62. The company has a current ratio of 2.29, a quick ratio of 2.28 and a debt-to-equity ratio of 0.09.

CureVac (NASDAQ:CVAC) last posted its earnings results on Thursday, August 15th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.06). CureVac had a negative return on equity of 57.18% and a negative net margin of 422.66%. The business had revenue of $15.55 million during the quarter, compared to analysts’ expectations of $10.07 million. Sell-side analysts expect that CureVac will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CureVac

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ballentine Partners LLC bought a new stake in shares of CureVac during the 1st quarter valued at $38,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of CureVac by 45.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,122 shares of the company’s stock worth $184,000 after buying an additional 13,687 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of CureVac by 232.0% in the second quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock worth $75,000 after buying an additional 15,403 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of CureVac in the second quarter valued at approximately $54,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in CureVac during the fourth quarter valued at approximately $68,000. 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.