CureVac (NASDAQ:CVAC) Rating Lowered to Market Perform at Leerink Partnrs

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

CVAC has been the subject of several other research reports. Guggenheim reissued a neutral rating on shares of CureVac in a research note on Friday, April 5th. SVB Leerink downgraded shares of CureVac from an outperform rating to a market perform rating and cut their target price for the company from $12.00 to $4.00 in a research note on Thursday. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $8.33.

CureVac Stock Performance

NASDAQ:CVAC opened at $2.33 on Thursday. The company has a quick ratio of 3.41, a current ratio of 3.56 and a debt-to-equity ratio of 0.06. CureVac has a 52-week low of $2.21 and a 52-week high of $12.36. The stock has a fifty day simple moving average of $3.06 and a 200-day simple moving average of $4.12.

Hedge Funds Weigh In On CureVac

A number of institutional investors and hedge funds have recently bought and sold shares of CVAC. Ballentine Partners LLC acquired a new position in shares of CureVac in the 1st quarter valued at approximately $38,000. Platinum Investment Management Ltd. raised its position 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 valued at $2,096,000 after purchasing an additional 134,626 shares in the last quarter. Aristides Capital LLC acquired a new position in shares of CureVac in the 4th quarter valued at approximately $100,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of CureVac in the 4th quarter valued at approximately $160,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of CureVac in the 4th quarter valued at approximately $68,000. Hedge funds and other institutional investors own 17.26% of the company’s stock.

CureVac Company Profile

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.