CureVac (NASDAQ:CVAC) Stock Price Down 8%

CureVac (NASDAQ:CVAC) shares traded down 8% during trading on Thursday . The company traded as low as $2.26 and last traded at $2.31. 396,021 shares were traded during mid-day trading, a decline of 51% from the average session volume of 805,111 shares. The stock had previously closed at $2.51.

Analyst Upgrades and Downgrades

CVAC has been the topic of several recent research reports. Guggenheim reaffirmed a “neutral” rating on shares of CureVac in a research note on Friday, April 5th. SVB Leerink cut shares of CureVac from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $12.00 to $4.00 in a research report on Thursday.

CureVac Price Performance

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 stock has a 50 day simple moving average of $3.11 and a 200-day simple moving average of $4.19.

Institutional Trading of CureVac

A number of institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of CureVac by 157.4% during 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 last quarter. Chicago Partners Investment Group LLC bought a new position in CureVac in the 3rd quarter valued at approximately $74,000. TD Asset Management Inc boosted its stake in 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 purchasing an additional 83,747 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of 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 purchasing an additional 2,804 shares in the last quarter. Finally, Platinum Investment Management Ltd. increased its holdings in shares of CureVac by 60.6% in the 3rd quarter. Platinum Investment Management Ltd. now owns 363,280 shares of the company’s stock worth $2,481,000 after purchasing an additional 137,146 shares in the last quarter. 17.26% of the stock is currently owned by institutional investors.

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.