CureVac (NASDAQ:CVAC) Trading Down 5.4%

CureVac (NASDAQ:CVAC) shares dropped 5.4% on Monday . The stock traded as low as $2.91 and last traded at $2.96. Approximately 385,247 shares were traded during trading, a decline of 52% from the average daily volume of 809,370 shares. The stock had previously closed at $3.13.

Analyst Upgrades and Downgrades

CVAC has been the topic of several analyst reports. Guggenheim reaffirmed a “neutral” rating on shares of CureVac in a research report on Friday, April 5th. SVB Leerink downgraded CureVac from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $12.00 to $4.00 in a research report on Thursday, April 25th. Finally, Leerink Partnrs cut CureVac from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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 has a 50-day moving average price of $2.97 and a 200 day moving average price of $3.98.

Institutional Investors Weigh In On CureVac

Several institutional investors have recently bought and sold shares of CVAC. Ballentine Partners LLC acquired a new stake in CureVac in the 1st quarter worth about $38,000. China Universal Asset Management Co. Ltd. boosted its holdings in CureVac by 95.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,738 shares of the company’s stock worth $39,000 after buying an additional 2,804 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in CureVac in the 4th quarter worth about $45,000. Optiver Holding B.V. boosted its holdings in CureVac by 2,407.0% in the 3rd quarter. Optiver Holding B.V. now owns 6,844 shares of the company’s stock worth $47,000 after buying an additional 6,571 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in CureVac in the 4th quarter worth about $68,000. 17.26% of the stock is currently owned by institutional investors and hedge funds.

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.