Leerink Partnrs Lowers CureVac (NASDAQ:CVAC) to Market Perform

CureVac (NASDAQ:CVAC) was downgraded by equities research analysts at Leerink Partnrs from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, Zacks.com reports.

A number of other research analysts have also recently commented on CVAC. Guggenheim reiterated a “neutral” rating on shares of CureVac in a research note on Friday, April 5th. SVB Leerink cut CureVac from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $12.00 to $4.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, CureVac has a consensus rating of “Hold” and a consensus target price of $12.25.

CureVac Trading Down 8.0 %

Shares of CVAC stock opened at $2.31 on Thursday. CureVac has a fifty-two week low of $2.21 and a fifty-two week high of $12.36. The company has a quick ratio of 3.41, a current ratio of 3.56 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $3.08 and its two-hundred day moving average price is $4.17.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its position 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 acquiring an additional 2,804 shares in the last quarter. Optiver Holding B.V. raised its position in shares of CureVac by 2,407.0% in the 3rd quarter. Optiver Holding B.V. now owns 6,844 shares of the company’s stock worth $47,000 after acquiring an additional 6,571 shares in the last quarter. Vontobel Holding Ltd. bought a new position in shares of CureVac in the 4th quarter worth about $45,000. Chicago Partners Investment Group LLC bought a new position in shares of CureVac in the 3rd quarter worth about $74,000. Finally, Ballentine Partners LLC bought a new position in shares of CureVac in the 1st quarter worth about $38,000. 17.26% of the stock is 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.