CureVac (NASDAQ:CVAC) Stock Rating Lowered by 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 report released on Thursday, FinViz reports. They currently have a $4.00 target price on the stock, down from their previous target price of $12.00. SVB Leerink’s target price points to a potential upside of 59.36% from the company’s current price.

Separately, Guggenheim reiterated a “neutral” rating on shares of CureVac in a report on Friday, April 5th.

CureVac Stock Down 3.5 %

Shares of CureVac stock opened at $2.51 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. The company has a 50-day simple moving average of $3.11 and a two-hundred day simple moving average of $4.19. CureVac has a one year low of $2.34 and a one year high of $12.36.

Hedge Funds Weigh In On CureVac

Hedge funds have recently modified their holdings of the stock. Platinum Investment Management Ltd. boosted its position in CureVac by 37.1% in the fourth quarter. Platinum Investment Management Ltd. now owns 497,906 shares of the company’s stock valued at $2,096,000 after buying an additional 134,626 shares during the last quarter. Swiss National Bank boosted its position in CureVac by 1.8% in the 3rd quarter. Swiss National Bank now owns 221,406 shares of the company’s stock worth $1,462,000 after purchasing an additional 3,925 shares in the last quarter. TD Asset Management Inc boosted its position in CureVac by 66.8% in the 3rd quarter. TD Asset Management Inc now owns 209,094 shares of the company’s stock worth $1,428,000 after purchasing an additional 83,747 shares in the last quarter. Jump Financial LLC acquired a new position in shares of CureVac during the 4th quarter worth approximately $346,000. Finally, Deutsche Bank AG raised its stake in shares of CureVac by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 72,510 shares of the company’s stock worth $495,000 after buying an additional 3,491 shares during the period. Institutional investors and hedge funds 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.