CureVac (NASDAQ:CVAC) Stock Price Down 8%

CureVac (NASDAQ:CVAC) shares dropped 8% on Thursday . The company traded as low as $2.26 and last traded at $2.31. Approximately 396,021 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 805,111 shares. The stock had previously closed at $2.51.

Wall Street Analyst Weigh In

CVAC has been the topic of a number of research analyst reports. Leerink Partnrs lowered shares of CureVac from an “outperform” rating to a “market perform” rating in a report on Thursday. SVB Leerink lowered shares of CureVac from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $12.00 to $4.00 in a report on Thursday. Finally, Guggenheim restated 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 assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.33.

CureVac Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 3.56 and a quick ratio of 3.41. The business’s fifty day simple moving average is $3.06 and its 200 day simple moving average is $4.15.

Institutional Investors Weigh In On CureVac

Institutional investors have recently modified their holdings of the business. Ballentine Partners LLC acquired a new stake in shares of CureVac in the first quarter valued at approximately $38,000. Platinum Investment Management Ltd. increased its stake in shares of 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 purchasing an additional 134,626 shares during the period. Aristides Capital LLC acquired a new stake in shares of CureVac in the fourth quarter valued at approximately $100,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of CureVac in the fourth quarter valued at approximately $160,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of CureVac in the fourth quarter valued at approximately $68,000. 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.