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 issued to investors on Thursday morning, MarketBeat reports. The brokerage currently has $4.00 price objective on the stock, down from their prior price objective of $12.00.

Separately, Guggenheim reiterated a neutral rating on shares of CureVac in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, CureVac currently has a consensus rating of Hold and an average price target of $12.25.

CureVac Stock Performance

CVAC stock opened at $2.31 on Thursday. CureVac has a 52-week low of $2.21 and a 52-week high of $12.36. The company’s 50 day simple moving average is $3.08 and its 200-day simple moving average is $4.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.41 and a current ratio of 3.56.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in shares of CureVac by 157.4% during the 3rd quarter. SG Americas Securities LLC now owns 31,497 shares of the company’s stock worth $215,000 after buying an additional 19,259 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of CureVac during the 3rd quarter worth $74,000. TD Asset Management Inc boosted its holdings in shares of CureVac by 66.8% during the 3rd quarter. TD Asset Management Inc now owns 209,094 shares of the company’s stock worth $1,428,000 after buying an additional 83,747 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of CureVac by 95.6% during the 3rd 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 during the period. Finally, Platinum Investment Management Ltd. boosted its holdings in shares of CureVac by 60.6% during the 3rd quarter. Platinum Investment Management Ltd. now owns 363,280 shares of the company’s stock worth $2,481,000 after buying an additional 137,146 shares during the period. Institutional investors and hedge funds own 17.26% of the company’s stock.

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.