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

CureVac (NASDAQ:CVAC) was downgraded by SVB Leerink from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, FinViz reports. They currently have a $4.00 price target on the stock, down from their prior price target of $12.00. SVB Leerink’s target price would suggest a potential upside of 59.36% from the stock’s previous close.

Separately, Guggenheim restated a “neutral” rating on shares of CureVac in a research note on Friday, April 5th.

CureVac Stock Down 3.5 %

CureVac stock opened at $2.51 on Thursday. The stock has a fifty day moving average price of $3.11 and a 200 day moving average price of $4.19. CureVac has a 52 week low of $2.34 and a 52 week high of $12.36. The company has a current ratio of 3.56, a quick ratio of 3.41 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CVAC. SG Americas Securities LLC lifted its position 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 worth $215,000 after purchasing an additional 19,259 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of CureVac during the third quarter worth $74,000. TD Asset Management Inc lifted its position in shares of CureVac by 66.8% during the third quarter. TD Asset Management Inc now owns 209,094 shares of the company’s stock worth $1,428,000 after purchasing an additional 83,747 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of 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 purchasing an additional 2,804 shares in the last quarter. Finally, Platinum Investment Management Ltd. lifted its position in shares of 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 in the last quarter. 17.26% of the stock is owned by institutional investors and hedge funds.

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.