Nuveen LLC Takes Position in CureVac N.V. $CVAC

Key Points

• Nuveen LLC acquired a new stake in CureVac N.V. by purchasing 83,219 shares valued at approximately $232,000 in the first quarter.
• Several large investors have also bought into CureVac, with institutional investors collectively owning 17.26% of its stock.
• Various analysts have downgraded their ratings and price targets for CureVac, with a consensus target price of $6.83 and an average rating of "Hold".

Nuveen LLC purchased a new stake in shares of CureVac N.V. (NASDAQ:CVAC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 83,219 shares of the company's stock, valued at approximately $232,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenleaf Trust bought a new stake in CureVac during the 1st quarter valued at $31,000. Two Sigma Advisers LP bought a new stake in shares of CureVac during the fourth quarter valued at about $48,000. D. E. Shaw & Co. Inc. acquired a new stake in CureVac in the fourth quarter worth about $66,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in CureVac by 14.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,125 shares of the company's stock valued at $81,000 after buying an additional 3,648 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in CureVac by 81.8% in the 1st quarter. Ballentine Partners LLC now owns 31,573 shares of the company's stock valued at $88,000 after buying an additional 14,210 shares in the last quarter. 17.26% of the stock is owned by institutional investors.

CureVac Price Performance

Shares of NASDAQ:CVAC traded up $0.01 on Thursday, reaching $5.39. 335,683 shares of the company traded hands, compared to its average volume of 484,887. The stock has a market capitalization of $1.21 billion, a PE ratio of 5.61 and a beta of 2.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.17 and a quick ratio of 6.16. The company's 50 day moving average is $5.42 and its 200-day moving average is $4.33. CureVac N.V. has a fifty-two week low of $2.37 and a fifty-two week high of $5.72.

CureVac (NASDAQ:CVAC - Get Free Report) last issued its earnings results on Thursday, August 21st. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.15). CureVac had a return on equity of 29.57% and a net margin of 38.21%.The company had revenue of $1.41 million during the quarter, compared to analyst estimates of $4.27 million. As a group, analysts anticipate that CureVac N.V. will post 0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup downgraded shares of CureVac to a "market perform" rating in a research report on Thursday, June 12th. JMP Securities reissued a "market outperform" rating and set a $10.00 target price on shares of CureVac in a report on Wednesday, May 28th. Citizens Jmp lowered CureVac from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 12th. UBS Group lowered CureVac from a "strong-buy" rating to a "neutral" rating and cut their price objective for the company from $12.00 to $5.50 in a report on Thursday, June 26th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $5.00 target price (down from $7.00) on shares of CureVac in a report on Friday, June 13th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $6.83.

CureVac 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.