CureVac (NASDAQ:CVAC) 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 research note issued to investors on Thursday morning, Zacks.com reports.

Several other analysts also recently issued reports on the stock. 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. Guggenheim restated a neutral rating on shares of CureVac in a report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $12.25.

CureVac Price Performance

Shares of NASDAQ:CVAC opened at $2.31 on Thursday. The company’s fifty day moving average is $3.08 and its two-hundred day moving average is $4.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.56 and a quick ratio of 3.41. CureVac has a 12-month low of $2.21 and a 12-month high of $12.36.

Institutional Investors Weigh In On CureVac

A number of large investors have recently bought and sold shares of the business. Ballentine Partners LLC bought a new stake in CureVac in the first quarter worth $38,000. Platinum Investment Management Ltd. boosted its holdings 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 purchasing an additional 134,626 shares in the last quarter. Aristides Capital LLC bought a new stake in CureVac in the fourth quarter worth $100,000. Dynamic Technology Lab Private Ltd bought a new stake in CureVac in the fourth quarter worth $160,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in CureVac in the fourth quarter worth $68,000. 17.26% of the stock is currently owned by institutional investors.

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.