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

CureVac (NASDAQ:CVAC) was downgraded by equities research analysts at SVB Leerink from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, MarketBeat reports. They presently have a $4.00 price objective on the stock, down from their prior price objective of $12.00. SVB Leerink’s target price indicates a potential upside of 71.67% from the company’s current price.

Separately, Guggenheim reiterated a “neutral” rating on shares of CureVac in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.33.

CureVac Price Performance

Shares of CureVac stock opened at $2.33 on Thursday. The company has a current ratio of 3.56, a quick ratio of 3.41 and a debt-to-equity ratio of 0.06. CureVac has a 1 year low of $2.21 and a 1 year high of $12.36. The firm’s 50-day moving average is $3.06 and its two-hundred day moving average is $4.15.

Institutional Trading of CureVac

A number of institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. boosted its holdings 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 valued at $39,000 after buying an additional 2,804 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of CureVac by 5.1% in the 3rd quarter. Deutsche Bank AG now owns 72,510 shares of the company’s stock valued at $495,000 after buying an additional 3,491 shares in the last quarter. Swiss National Bank boosted its holdings in shares of CureVac by 1.8% in the 3rd quarter. Swiss National Bank now owns 221,406 shares of the company’s stock valued at $1,462,000 after buying an additional 3,925 shares in the last quarter. Optiver Holding B.V. boosted its holdings 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 valued at $47,000 after buying an additional 6,571 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of CureVac by 33.3% in the 3rd quarter. Federated Hermes Inc. now owns 40,000 shares of the company’s stock valued at $273,000 after purchasing an additional 10,000 shares during the last quarter. 17.26% of the stock is currently 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.