CureVac (NASDAQ:CVAC) Stock Price Down 8%

CureVac (NASDAQ:CVAC) dropped 8% during mid-day trading on Thursday . The stock 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.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Leerink Partnrs downgraded shares of CureVac from an “outperform” rating to a “market perform” rating in a report on Thursday. Guggenheim reaffirmed a “neutral” rating on shares of CureVac in a report on Friday, April 5th. Finally, SVB Leerink downgraded shares of CureVac from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $12.00 to $4.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, CureVac currently has an average rating of “Hold” and an average price target of $8.33.

CureVac Trading Up 0.9 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.41 and a current ratio of 3.56. The stock has a 50 day moving average price of $3.06 and a 200 day moving average price of $4.15.

Institutional Investors Weigh In On CureVac

A number of hedge funds have recently made changes to their positions in the business. Ballentine Partners LLC bought a new stake in shares of CureVac during the 1st quarter worth $38,000. Platinum Investment Management Ltd. raised its stake in shares of CureVac by 37.1% during the 4th quarter. Platinum Investment Management Ltd. now owns 497,906 shares of the company’s stock worth $2,096,000 after purchasing an additional 134,626 shares during the period. Aristides Capital LLC bought a new stake in shares of CureVac during the 4th quarter worth $100,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of CureVac during the 4th quarter worth $160,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in CureVac in the 4th quarter valued at about $68,000. 17.26% of the stock is currently owned by institutional investors.

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.