CureVac (NASDAQ:CVAC) Trading Up 4.7% - Still a Buy?

CureVac (NASDAQ:CVAC - Get Free Report) saw its share price increase by 4.7% on Thursday. The stock reached a high of $2.88 and was last traded at that same price. During the trading session, around 363,333 shares changed hands, marking a 56% decline compared to the average daily trading volume of 816,999 shares. The stock had closed at $2.75 previously.

Wall Street Analysts Forecast Growth

On September 16th, JMP Securities reiterated a "market outperform" rating for CureVac, setting a price target of $16.00 for the company's shares in a recent research report.

CureVac Stock Performance

The company's quick ratio stands at 6.19, while its current ratio is 6.20, suggesting a strong liquidity position. Additionally, CureVac has a debt-to-equity ratio of just 0.05. With a market capitalization of approximately $676.12 million, the stock carries a price-to-earnings (P/E) ratio of 5.49 and a price-to-earnings-growth (PEG) ratio of 0.24. The company's 50-day moving average is currently $2.84, and its 200-day moving average is $3.19.

Institutional Investors Weigh In On CureVac

Recently, hedge funds have adjusted their positions in CureVac. Barclays PLC acquired a new stake in the third quarter estimated at around $67,000. Similarly, the Public Employees Retirement System of Ohio purchased a stake valued at $91,000. Jane Street Group LLC significantly increased its position by 239.0%, now holding 79,247 shares valued at $235,000 after acquiring an additional 55,867 shares. Other firms, such as Integrated Wealth Concepts LLC and China Universal Asset Management Co. Ltd., also grew their stakes in the company, indicating a growing interest from institutional investors. Currently, institutional investors own about 17.26% of CureVac’s stock.

CureVac Company Profile

CureVac N.V. is a biopharmaceutical firm primarily focused on developing transformative medicines based on messenger ribonucleic acid (mRNA). The company is advancing multiple vaccine candidates, including mRNA-based therapies like CV2CoV, which is in Phase 1 trials for SARS-CoV-2, and CV7202 for rabies. CureVac is also developing CVSQIV to combat multivalent seasonal influenza.

Consider This Before Investing

Before making investment decisions, it's critical to review various stocks and seek out top-rated analysts' recommendations. Currently, while CureVac holds a "Hold" rating from analysts, there are other stocks that may have more potential upside.

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