Leerink Partnrs Lowers CureVac (NASDAQ:CVAC) to Market Perform

CureVac (NASDAQ:CVAC) was downgraded by investment analysts at Leerink Partnrs from an “outperform” rating to a “market perform” rating in a report issued on Thursday, Zacks.com reports.

Other analysts also recently issued research reports about the company. SVB Leerink downgraded CureVac from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $12.00 to $4.00 in a research report on Thursday. Guggenheim reissued 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.25.

CureVac Trading Down 8.0 %

Shares of CVAC stock opened at $2.31 on Thursday. The stock has a 50 day moving average of $3.08 and a two-hundred day moving average of $4.17. 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 12 month low of $2.21 and a 12 month high of $12.36.

Institutional Investors Weigh In On CureVac

Hedge funds and other institutional investors have recently bought and sold shares of the business. Platinum Investment Management Ltd. boosted its position in CureVac by 60.6% in the 3rd quarter. Platinum Investment Management Ltd. now owns 363,280 shares of the company’s stock valued at $2,481,000 after buying an additional 137,146 shares during 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 valued at $1,428,000 after buying an additional 83,747 shares during the last quarter. Jump Financial LLC bought a new position in CureVac in the 4th quarter valued at $346,000. Dynamic Technology Lab Private Ltd bought a new position in CureVac in the 4th quarter valued at $160,000. Finally, Aristides Capital LLC bought a new position in CureVac in the 4th quarter valued at $100,000. 17.26% of the stock is owned by institutional investors and hedge funds.

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.