SVB Leerink downgraded shares of CureVac (NASDAQ:CVAC - Free Report) from an outperform rating to a market perform rating in a research report released on Thursday morning, Marketbeat.com reports. They currently have $4.00 price objective on the stock, down from their prior price objective of $12.00.
Separately, Guggenheim reissued a neutral rating on shares of CureVac in a research report on Friday, April 5th.
View Our Latest Stock Analysis on CureVac
CureVac Stock Performance
Shares of CVAC traded down $0.20 during mid-day trading on Thursday, reaching $2.31. The company had a trading volume of 1,242,439 shares, compared to its average volume of 816,321. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.41 and a current ratio of 3.56. The firm has a 50-day moving average price of $3.11 and a 200 day moving average price of $4.19. CureVac has a 52 week low of $2.21 and a 52 week high of $12.36.
Institutional Investors Weigh In On CureVac
Hedge funds have recently added to or reduced their stakes in the stock. Ballentine Partners LLC purchased a new stake in shares of CureVac in the 1st quarter worth $38,000. China Universal Asset Management Co. Ltd. boosted its holdings in CureVac by 95.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,738 shares of the company's stock worth $39,000 after buying an additional 2,804 shares during the period. Vontobel Holding Ltd. bought a new position in CureVac in the 4th quarter worth $45,000. Optiver Holding B.V. boosted its holdings in CureVac by 2,407.0% in the 3rd quarter. Optiver Holding B.V. now owns 6,844 shares of the company's stock worth $47,000 after buying an additional 6,571 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new position in CureVac in the 4th quarter worth $68,000. 17.26% of the stock is currently owned by hedge funds and other institutional investors.
About CureVac
(
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CureVac N.V., a clinical-stage 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, a prophylactic mRNA-based vaccine, which has completed Phase 1 clinical trial for rabies virus glycoprotein; and CVSQIV, which is in Phase 1 clinical trial against influenza, as well as vaccine for lassa fever, yellow fever, respiratory syncytial virus, rotavirus, malaria, and universal influenza.
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