CureVac (NASDAQ:CVAC) Trading Down 8%

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CVAC shares. SVB Leerink lowered 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 note on Thursday. Guggenheim reaffirmed a “neutral” rating on shares of CureVac in a report on Friday, April 5th.

CureVac Trading Down 8.0 %

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 firm has a 50 day moving average of $3.11 and a 200 day moving average of $4.19.

Institutional Investors Weigh In On CureVac

A number of large investors have recently added to or reduced their stakes in CVAC. Platinum Investment Management Ltd. grew its stake in shares of CureVac by 60.6% in the third quarter. Platinum Investment Management Ltd. now owns 363,280 shares of the company’s stock worth $2,481,000 after acquiring an additional 137,146 shares during the last quarter. TD Asset Management Inc lifted its holdings 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 valued at $1,428,000 after purchasing an additional 83,747 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of CureVac during the fourth quarter valued at $346,000. Dynamic Technology Lab Private Ltd bought a new stake in CureVac in the 4th quarter worth about $160,000. Finally, Aristides Capital LLC purchased a new position in CureVac in the 4th quarter worth about $100,000. 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.