Leerink Partnrs Lowers CureVac (NASDAQ:CVAC) to Market Perform

Leerink Partnrs lowered shares of CureVac (NASDAQ:CVAC) from an outperform rating to a market perform rating in a report released on Thursday morning, Zacks.com reports.

Several other research firms have also weighed in on CVAC. SVB Leerink lowered shares of CureVac from an outperform rating to a market perform rating and cut their target price for the stock from $12.00 to $4.00 in a report on Thursday. Guggenheim reiterated a neutral rating on shares of CureVac in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, CureVac presently has a consensus rating of Hold and an average target price of $12.25.

CureVac Stock Down 8.0 %

Shares of CVAC stock opened at $2.31 on Thursday. CureVac has a 52-week low of $2.21 and a 52-week high of $12.36. The company has a quick ratio of 3.41, a current ratio of 3.56 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average price is $3.08 and its two-hundred day moving average price is $4.17.

Institutional Investors Weigh In On CureVac

Several hedge funds have recently bought and sold shares of CVAC. 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 worth $39,000 after acquiring an additional 2,804 shares during the period. Optiver Holding B.V. raised its holdings in shares of CureVac by 2,407.0% during the third quarter. Optiver Holding B.V. now owns 6,844 shares of the company’s stock worth $47,000 after acquiring an additional 6,571 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of CureVac during the fourth quarter worth $45,000. Chicago Partners Investment Group LLC acquired a new stake in shares of CureVac during the third quarter worth $74,000. Finally, Ballentine Partners LLC acquired a new stake in shares of CureVac during the first quarter worth $38,000. 17.26% of the stock is currently owned by institutional investors and hedge funds.

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.