CureVac (NASDAQ:CVAC) Trading Down 5.8% – Here’s Why

CureVac (NASDAQ:CVAC)’s stock price dropped 5.8% during mid-day trading on Monday . The company traded as low as $3.52 and last traded at $3.57. Approximately 409,255 shares were traded during trading, a decline of 65% from the average daily volume of 1,157,037 shares. The stock had previously closed at $3.79.

CureVac Stock Down 6.3 %

The stock has a 50 day simple moving average of $3.47 and a 200-day simple moving average of $3.21. The firm has a market cap of $794.77 million, a PE ratio of 6.45 and a beta of 2.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.20 and a quick ratio of 6.19.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. grew its holdings in shares of CureVac by 10.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 47,568 shares of the company’s stock worth $162,000 after acquiring an additional 4,425 shares during the period. Barclays PLC bought a new stake in shares of CureVac in the third quarter worth $67,000. Public Employees Retirement System of Ohio bought a new stake in shares of CureVac in the third quarter worth $91,000. Jane Street Group LLC grew its holdings in shares of CureVac by 239.0% in the third quarter. Jane Street Group LLC now owns 79,247 shares of the company’s stock worth $235,000 after acquiring an additional 55,867 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of CureVac in the third quarter worth $35,000. Hedge funds and other 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.