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, Marketbeat reports. SVB Leerink currently has $4.00 price objective on the stock, down from their previous price objective of $12.00.

Separately, Guggenheim reaffirmed a neutral rating on shares of CureVac in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, CureVac presently has a consensus rating of Hold and a consensus price target of $8.33.

CureVac Trading Up 0.9 %

CureVac stock opened at $2.33 on Thursday. The company has a 50 day moving average price of $3.06 and a 200-day moving average price of $4.12. The company has a quick ratio of 3.41, a current ratio of 3.56 and a debt-to-equity ratio of 0.06. CureVac has a fifty-two week low of $2.21 and a fifty-two week high of $12.36.

Hedge Funds Weigh In On CureVac

A number of large investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its stake in CureVac by 95.6% in 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 in the last quarter. Deutsche Bank AG raised its stake in CureVac by 5.1% in the third quarter. Deutsche Bank AG now owns 72,510 shares of the company’s stock worth $495,000 after buying an additional 3,491 shares in the last quarter. Swiss National Bank raised its stake in CureVac by 1.8% in the third quarter. Swiss National Bank now owns 221,406 shares of the company’s stock worth $1,462,000 after buying an additional 3,925 shares in the last quarter. Optiver Holding B.V. raised its stake in CureVac by 2,407.0% in 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 in the last quarter. Finally, Federated Hermes Inc. raised its stake in CureVac by 33.3% in the third quarter. Federated Hermes Inc. now owns 40,000 shares of the company’s stock worth $273,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 17.26% of the company’s stock.

CureVac Company Profile

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.