CureVac (NASDAQ:CVAC) Shares Down 6.6%

CureVac (NASDAQ:CVAC)’s share price was down 6.6% during trading on Friday . The company traded as low as $95.79 and last traded at $98.80. Approximately 1,860 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 947,213 shares. The stock had previously closed at $105.80.

A number of research analysts recently issued reports on the company. Guggenheim initiated coverage on CureVac in a report on Monday, May 3rd. They set a “buy” rating for the company. Credit Suisse Group initiated coverage on shares of CureVac in a research note on Monday, April 26th. They set an “underperform” rating for the company. Finally, Zacks Investment Research lowered shares of CureVac from a “buy” rating to a “hold” rating in a research report on Friday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.25.

The company has a market capitalization of $18.40 billion and a PE ratio of -87.88. The company has a 50-day moving average of $108.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.55 and a current ratio of 5.61.

Several large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new stake in CureVac during the first quarter worth $626,000. Utah Retirement Systems acquired a new stake in CureVac in the 1st quarter valued at about $1,162,000. Voloridge Investment Management LLC acquired a new stake in CureVac in the 1st quarter valued at about $11,861,000. Morgan Stanley grew its holdings in CureVac by 215.4% during the first quarter. Morgan Stanley now owns 53,599 shares of the company’s stock worth $4,903,000 after purchasing an additional 36,604 shares during the period. Finally, Tudor Investment Corp Et Al acquired a new position in CureVac during the first quarter worth approximately $277,000. 7.16% of the stock is owned by institutional investors and hedge funds.

About CureVac (NASDAQ:CVAC)

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 candidate against COVID-19; CV7202, a prophylactic mRNA-based vaccine, which is in Phase 1 clinical trial for rabies virus glycoprotein; vaccine for lassa yellow fever; vaccine for respirational syncytial virus; CV7301, a second-generation lipid nanoparticle flu vaccine; and vaccines for rota, malaria, and universal influenza.

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