CureVac (NASDAQ:CVAC) Hits New 52-Week Low at $2.34

Shares of CureVac (NASDAQ:CVAC) reached a new 52-week low during trading on Wednesday . The company traded as low as $2.34 and last traded at $2.41, with a volume of 214016 shares. The stock had previously closed at $2.60.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. SVB Leerink cut shares of CureVac from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $12.00 to $4.00 in a report on Thursday. Guggenheim reiterated a “neutral” rating on shares of CureVac in a report on Friday, April 5th.

CureVac Price Performance

The business’s fifty day moving average is $3.08 and its 200-day moving average is $4.17. The company has a quick ratio of 3.41, a current ratio of 3.56 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CVAC. China Universal Asset Management Co. Ltd. increased its position in CureVac by 95.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,738 shares of the company’s stock valued at $39,000 after purchasing an additional 2,804 shares during the period. Swiss National Bank increased its position in CureVac by 1.8% during the 3rd quarter. Swiss National Bank now owns 221,406 shares of the company’s stock valued at $1,462,000 after purchasing an additional 3,925 shares during the period. Pathstone Family Office LLC acquired a new stake in CureVac during the 3rd quarter valued at approximately $89,000. Deutsche Bank AG increased its position in CureVac by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 72,510 shares of the company’s stock valued at $495,000 after purchasing an additional 3,491 shares during the period. Finally, Federated Hermes Inc. increased its position in CureVac by 33.3% during 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 period. Institutional investors 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.