Nuveen LLC Buys New Shares 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 bought a new stake in CureVac N.V. (NASDAQ:CVAC - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 83,219 shares of the company's stock, valued at approximately $232,000.

Several other hedge funds have also made changes to their positions in CVAC. Greenleaf Trust acquired a new stake in CureVac during the first quarter worth approximately $31,000. Two Sigma Advisers LP purchased a new position in shares of CureVac during the 4th quarter worth about $48,000. D. E. Shaw & Co. Inc. acquired a new stake in CureVac during the 4th quarter worth approximately $66,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of CureVac by 14.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,125 shares of the company's stock worth $81,000 after buying an additional 3,648 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in shares of CureVac by 81.8% during the first quarter. Ballentine Partners LLC now owns 31,573 shares of the company's stock worth $88,000 after buying an additional 14,210 shares in the last quarter. Institutional investors and hedge funds own 17.26% of the company's stock.

Analysts Set New Price Targets

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

CureVac Price Performance

CVAC stock traded up $0.01 during mid-day trading on Wednesday, hitting $5.39. 226,826 shares of the stock were exchanged, compared to its average volume of 913,499. CureVac N.V. has a 12 month low of $2.37 and a 12 month high of $5.72. 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 business has a fifty day moving average price of $5.42 and a 200 day moving average price of $4.30. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 5.60 and a beta of 2.53.

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

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.