CureVac (NASDAQ:CVAC) Shares Down 7.3%

CureVac (NASDAQ:CVAC - Get Free Report) shares dropped 7.3% during mid-day trading on Monday . The stock traded as low as $3.18 and last traded at $3.19. Approximately 60,766 shares changed hands during trading, a decline of 94% from the average daily volume of 940,576 shares. The stock had previously closed at $3.44.

Wall Street Analysts Forecast Growth

Separately, JMP Securities reaffirmed a "market outperform" rating and set a $16.00 price objective on shares of CureVac in a research note on Monday.

CureVac Trading Down 4.9 %

The company has a market capitalization of $732.09 million, a PE ratio of -2.46, a PEG ratio of 2.15 and a beta of 2.62. The company has a fifty day simple moving average of $3.33 and a 200-day simple moving average of $3.28. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.06). CureVac had a negative net margin of 422.66% and a negative return on equity of 57.18%. The firm had revenue of $15.55 million during the quarter, compared to analysts' expectations of $10.07 million. Analysts predict that CureVac will post 0.05 EPS for the current year.

Institutional Investors Weigh In On CureVac

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ballentine Partners LLC acquired a new position in CureVac in the first quarter valued at about $38,000. Bank of New York Mellon Corp acquired a new stake in shares of CureVac in the second quarter valued at $54,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of CureVac in the 4th quarter valued at $68,000. Signaturefd LLC raised its holdings in shares of CureVac by 232.0% in the 2nd quarter. Signaturefd LLC now owns 22,043 shares of the company's stock valued at $75,000 after buying an additional 15,403 shares during the period. Finally, Aristides Capital LLC acquired a new stake in shares of CureVac during the fourth quarter worth about $100,000. 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.