CureVac (NASDAQ:CVAC) Trading Down 5.4%

CureVac (NASDAQ:CVAC) dropped 5.4% during trading on Monday . The company traded as low as $2.91 and last traded at $2.96. Approximately 385,247 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 809,370 shares. The stock had previously closed at $3.13.

Analysts Set New Price Targets

CVAC has been the topic of a number of research reports. Guggenheim reiterated a “neutral” rating on shares of CureVac in a report on Friday, April 5th. SVB Leerink downgraded 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, April 25th. Finally, Leerink Partnrs downgraded shares of CureVac from an “outperform” rating to a “market perform” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, CureVac currently has an average rating of “Hold” and a consensus price target of $8.33.

CureVac Trading Down 3.7 %

The stock’s fifty day moving average price is $2.97 and its 200-day moving average price is $3.98. The company has a current ratio of 2.57, a quick ratio of 2.43 and a debt-to-equity ratio of 0.07.

Institutional Investors Weigh In On CureVac

Large investors have recently made changes to their positions in the company. Ballentine Partners LLC acquired a new stake in shares of CureVac during the first quarter valued at approximately $38,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of CureVac by 95.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,738 shares of the company’s stock valued at $39,000 after acquiring an additional 2,804 shares during the period. Vontobel Holding Ltd. purchased a new position in CureVac during the fourth quarter valued at approximately $45,000. Optiver Holding B.V. grew its position in CureVac by 2,407.0% during the third quarter. Optiver Holding B.V. now owns 6,844 shares of the company’s stock valued at $47,000 after purchasing an additional 6,571 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in CureVac during the fourth quarter valued at approximately $68,000. 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.