CureVac (NASDAQ:CVAC) Trading Up 5.6%

CureVac (NASDAQ:CVAC) shares were up 5.6% on Monday . The stock traded as high as $2.46 and last traded at $2.46. Approximately 192,927 shares changed hands during mid-day 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 research analysts have weighed in on CVAC shares. Guggenheim reaffirmed a “neutral” rating on shares of CureVac in a research note on Friday, April 5th. SVB Leerink downgraded shares of CureVac from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $12.00 to $4.00 in a research note on Thursday. Finally, Leerink Partnrs downgraded shares of CureVac from an “outperform” rating to a “market perform” rating in a research note on Thursday. One equities 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $8.33.

CureVac Stock Up 8.2 %

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVAC. Platinum Investment Management Ltd. boosted its holdings 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 purchasing an additional 137,146 shares during the last quarter. TD Asset Management Inc boosted its stake in CureVac by 66.8% in the third 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 last quarter. Jump Financial LLC purchased a new position in CureVac in the fourth quarter valued at about $346,000. Dynamic Technology Lab Private Ltd purchased a new position in CureVac in the fourth quarter valued at about $160,000. Finally, Aristides Capital LLC purchased a new position in CureVac in the fourth quarter valued at about $100,000. 17.26% of the stock is currently owned by hedge funds and other 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.