CureVac (NASDAQ:CVAC) Stock Price Down 5.4%

CureVac (NASDAQ:CVAC) shares were down 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.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVAC shares. SVB Leerink cut shares of CureVac from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $12.00 to $4.00 in a research note on Thursday, April 25th. Leerink Partnrs downgraded CureVac from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. Finally, Guggenheim reiterated a “neutral” rating on shares of CureVac in a research 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.33.

CureVac Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.43 and a current ratio of 2.57. The stock’s 50-day moving average price is $2.98 and its 200 day moving average price is $3.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVAC. China Universal Asset Management Co. Ltd. lifted its position in shares of CureVac by 66.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 43,019 shares of the company’s stock valued at $130,000 after acquiring an additional 17,132 shares in the last quarter. Ballentine Partners LLC purchased 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 4th quarter. Platinum Investment Management Ltd. now owns 497,906 shares of the company’s stock worth $2,096,000 after acquiring an additional 134,626 shares during the last quarter. Aristides Capital LLC purchased a new stake in shares of CureVac during the 4th quarter valued at approximately $100,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in CureVac in the fourth quarter worth approximately $160,000. Hedge funds and other institutional investors own 17.26% of the company’s stock.

About CureVac

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.