CureVac (NASDAQ:CVAC) Trading 5.6% Higher

CureVac (NASDAQ:CVAC - Get Free Report) shares rose 5.6% on Monday . The company traded as high as $2.46 and last traded at $2.46. Approximately 192,927 shares changed hands during trading, a decline of 76% from the average daily volume of 808,687 shares. The stock had previously closed at $2.33.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. SVB Leerink downgraded shares of CureVac from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $12.00 to $4.00 in a research note on Thursday. Guggenheim restated a "neutral" rating on shares of CureVac in a report on Friday, April 5th. Finally, Leerink Partnrs downgraded CureVac from an "outperform" rating to a "market perform" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, CureVac has an average rating of "Hold" and a consensus target price of $8.33.

CureVac Stock Performance

The stock's 50-day moving average price is $3.06 and its 200-day moving average price is $4.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.57 and a quick ratio of 2.43.

Hedge Funds Weigh In On CureVac

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in CureVac by 157.4% in the third quarter. SG Americas Securities LLC now owns 31,497 shares of the company's stock valued at $215,000 after buying an additional 19,259 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of CureVac in the 3rd quarter valued at $74,000. TD Asset Management Inc lifted its position in shares of CureVac by 66.8% during the 3rd quarter. TD Asset Management Inc now owns 209,094 shares of the company's stock valued at $1,428,000 after acquiring an additional 83,747 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in CureVac by 95.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,738 shares of the company's stock worth $39,000 after acquiring an additional 2,804 shares in the last quarter. Finally, Platinum Investment Management Ltd. boosted its stake in CureVac by 60.6% during the third quarter. Platinum Investment Management Ltd. now owns 363,280 shares of the company's stock worth $2,481,000 after acquiring an additional 137,146 shares in the last quarter. Institutional investors and hedge funds own 17.26% of the company's stock.

About CureVac

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.