CureVac (NASDAQ:CVAC) Downgraded to “Hold” Rating by UBS Group

CureVac (NASDAQ:CVAC) was downgraded by stock analysts at UBS Group from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $5.50 price objective on the stock, down from their previous price objective of $12.00. UBS Group’s price objective points to a potential upside of 1.85% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $10.00 price target on shares of CureVac in a report on Wednesday, May 28th. Citizens Jmp cut shares of CureVac from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 12th. Jefferies Financial Group reissued a “hold” rating and issued a $5.00 price target (down previously from $7.00) on shares of CureVac in a research report on Friday, June 13th. Finally, Citigroup cut CureVac to a “market perform” rating in a research report on Thursday, June 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, CureVac currently has a consensus rating of “Hold” and an average price target of $6.83.

CureVac Stock Performance

Shares of CVAC opened at $5.40 on Thursday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 5.87 and a beta of 2.49. The business’s 50 day moving average is $4.19 and its two-hundred day moving average is $3.63. The company has a quick ratio of 7.64, a current ratio of 7.65 and a debt-to-equity ratio of 0.05. CureVac has a 52-week low of $2.37 and a 52-week high of $5.72.

CureVac (NASDAQ:CVAC) last posted its quarterly earnings results on Thursday, May 22nd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The firm had revenue of $0.94 million for the quarter, compared to analyst estimates of $4.27 million. CureVac had a net margin of 35.44% and a return on equity of 30.89%. Analysts forecast that CureVac will post 0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On CureVac

Several institutional investors have recently modified their holdings of CVAC. Greenleaf Trust bought a new position in CureVac during the first quarter worth about $31,000. Integrated Wealth Concepts LLC increased its holdings in CureVac by 25.0% during the 1st quarter. Integrated Wealth Concepts LLC now owns 15,000 shares of the company’s stock worth $42,000 after purchasing an additional 3,000 shares in the last quarter. Two Sigma Advisers LP bought a new stake in shares of CureVac in the fourth quarter valued at about $48,000. Jump Financial LLC acquired a new position in shares of CureVac during the fourth quarter worth about $55,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of CureVac during the 4th quarter worth about $66,000. Institutional investors and hedge funds own 17.26% of the company’s stock.

CureVac Company Profile

CureVac N.V., a 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 which is in Phase 1 clinical trial for the treatment of rabies; and CVSQIV to treat multivalent seasonal influenza; Flu SV mRNA fot treating nucleotides, single antigen seasonal influenza.