CureVac (NASDAQ:CVAC) Downgraded to “Market Perform” at SVB Leerink

SVB Leerink cut shares of CureVac (NASDAQ:CVAC) from an outperform rating to a market perform rating in a research note published on Thursday morning, Marketbeat Ratings reports. SVB Leerink currently has $4.00 target price on the stock, down from their prior target price of $12.00.

Separately, Guggenheim restated a neutral rating on shares of CureVac in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $12.25.

CureVac Stock Down 8.0 %

Shares of NASDAQ:CVAC opened at $2.31 on Thursday. The business has a 50-day moving average price of $3.08 and a 200 day moving average price of $4.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.56 and a quick ratio of 3.41. CureVac has a 12-month low of $2.21 and a 12-month high of $12.36.

Institutional Investors Weigh In On CureVac

Several institutional investors have recently added to or reduced their stakes in CVAC. Ballentine Partners LLC purchased a new stake in CureVac during the first quarter worth approximately $38,000. China Universal Asset Management Co. Ltd. increased its position 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 buying an additional 2,804 shares during the period. Vontobel Holding Ltd. acquired a new position in CureVac during the fourth quarter worth approximately $45,000. Optiver Holding B.V. increased its position in CureVac by 2,407.0% during the third 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 acquired a new position in CureVac during the fourth quarter worth approximately $68,000. Hedge funds and other institutional investors 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.