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

CureVac (NASDAQ:CVAC) was downgraded by analysts at Leerink Partnrs from an “outperform” rating to a “market perform” rating in a report released on Thursday, Zacks.com reports.

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

CureVac Stock Up 0.9 %

CVAC stock opened at $2.33 on Thursday. CureVac has a 52-week low of $2.21 and a 52-week high of $12.36. The firm has a 50 day moving average price of $3.06 and a 200-day moving average price of $4.15. The company has a current ratio of 3.56, a quick ratio of 3.41 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Ballentine Partners LLC bought a new position in CureVac in the 1st quarter worth $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 period. Vontobel Holding Ltd. bought a new position in CureVac in the 4th quarter worth $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 period. Finally, Vanguard Personalized Indexing Management LLC bought a new position in CureVac in the 4th quarter worth $68,000. 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.