CureVac (NASDAQ:CVAC – Get Free Report) shares shot up 5.6% during mid-day trading on Monday . The company traded as high as $2.46 and last traded at $2.46. 192,927 shares changed hands during trading, a decline of 76% from the average session volume of 808,687 shares. The stock had previously closed at $2.33.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CVAC. Leerink Partnrs lowered shares of CureVac from an “outperform” rating to a “market perform” rating in a research note on Thursday. SVB Leerink lowered shares of CureVac from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $12.00 to $4.00 in a research note on Thursday. Finally, Guggenheim reissued a “neutral” rating on shares of CureVac in a research note on Friday, April 5th. One investment 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, CureVac has an average rating of “Hold” and a consensus target price of $8.33.
Read Our Latest Stock Analysis on CureVac
CureVac Stock Up 8.2 %
Institutional Trading of CureVac
A number of hedge funds have recently added to or reduced their stakes in the business. Platinum Investment Management Ltd. lifted its stake in CureVac by 37.1% in the fourth quarter. Platinum Investment Management Ltd. now owns 497,906 shares of the company’s stock worth $2,096,000 after acquiring an additional 134,626 shares during the period. Swiss National Bank lifted its stake in CureVac by 1.8% in the third quarter. Swiss National Bank now owns 221,406 shares of the company’s stock worth $1,462,000 after acquiring an additional 3,925 shares during the period. TD Asset Management Inc lifted its stake in CureVac by 66.8% in the third quarter. TD Asset Management Inc now owns 209,094 shares of the company’s stock worth $1,428,000 after acquiring an additional 83,747 shares during the period. Jump Financial LLC purchased a new stake in CureVac in the fourth quarter worth about $346,000. Finally, Deutsche Bank AG raised its holdings in CureVac by 5.1% in the third quarter. Deutsche Bank AG now owns 72,510 shares of the company’s stock worth $495,000 after purchasing an additional 3,491 shares in the last quarter. 17.26% of the stock is owned by hedge funds and other 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.
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