CureVac (NASDAQ:CVAC) Shares Down 5.6%

CureVac (NASDAQ:CVAC)’s share price dropped 5.6% on Wednesday . The stock traded as low as $3.34 and last traded at $3.34. Approximately 533,098 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 998,294 shares. The stock had previously closed at $3.54.

Wall Street Analyst Weigh In

CVAC has been the topic of several analyst reports. SVB Leerink cut shares of 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 note on Thursday, April 25th. Guggenheim reissued a “neutral” rating on shares of CureVac in a research note on Friday, April 5th. Finally, Leerink Partnrs cut shares of CureVac from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th.

CureVac Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.25 and a quick ratio of 2.09. The stock’s fifty day moving average is $3.39 and its two-hundred day moving average is $3.53.

CureVac (NASDAQ:CVAC) last posted its earnings results on Thursday, May 23rd. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.12). CureVac had a negative return on equity of 49.22% and a negative net margin of 463.49%. The business had revenue of $13.43 million during the quarter, compared to analyst estimates of $14.51 million. Equities analysts forecast that CureVac will post -1.11 EPS for the current fiscal year.

Institutional Investors Weigh In On CureVac

A number of institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new stake in CureVac in the 1st quarter worth about $175,000. Platinum Investment Management Ltd. grew its position in CureVac by 25.9% in the 1st quarter. Platinum Investment Management Ltd. now owns 626,684 shares of the company’s stock worth $1,899,000 after purchasing an additional 128,778 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in CureVac by 66.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 43,019 shares of the company’s stock worth $130,000 after purchasing an additional 17,132 shares in the last quarter. Ballentine Partners LLC bought a new stake in CureVac in the 1st quarter worth about $38,000. Finally, Aristides Capital LLC bought a new stake in CureVac in the 4th quarter worth about $100,000. 17.26% of the stock is owned by institutional investors.

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.