CureVac (NASDAQ:CVAC) Shares Down 3.4%

CureVac (NASDAQ:CVAC)’s share price dropped 3.4% on Monday . The company traded as low as $3.37 and last traded at $3.37. Approximately 308,443 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 795,588 shares. The stock had previously closed at $3.49.

Wall Street Analyst Weigh In

Several research analysts have recently 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, April 25th. SVB Leerink cut CureVac from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $12.00 to $4.00 in a report on Thursday, April 25th. Finally, Guggenheim reissued a “neutral” rating on shares of CureVac in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.33.

CureVac Trading Up 18.8 %

The company has a quick ratio of 2.43, a current ratio of 2.57 and a debt-to-equity ratio of 0.07. The company has a market cap of $875.37 million, a price-to-earnings ratio of -3.09 and a beta of 2.51. The firm has a 50 day moving average price of $2.93 and a two-hundred day moving average price of $3.82.

CureVac (NASDAQ:CVAC) last released its quarterly earnings results on Wednesday, April 24th. The company reported ($0.42) earnings per share (EPS) for the quarter. CureVac had a negative return on equity of 41.85% and a negative net margin of 483.81%. The firm had revenue of $24.30 million for the quarter. As a group, equities analysts forecast that CureVac will post -0.84 earnings per share for the current year.

Institutional Investors Weigh In On CureVac

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC acquired a new position in shares of CureVac during the 1st quarter valued at $175,000. Platinum Investment Management Ltd. grew its stake in shares of CureVac by 25.9% in the 1st quarter. Platinum Investment Management Ltd. now owns 626,684 shares of the company’s stock valued at $1,899,000 after buying an additional 128,778 shares during the period. China Universal Asset Management Co. Ltd. increased its position in CureVac by 66.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 43,019 shares of the company’s stock valued at $130,000 after buying an additional 17,132 shares in the last quarter. Ballentine Partners LLC acquired a new position in CureVac during the 1st quarter worth approximately $38,000. Finally, Aristides Capital LLC bought a new position in CureVac in the fourth quarter worth approximately $100,000. Institutional investors own 17.26% of the company’s stock.

About CureVac

CureVac N.V., a 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 which is in Phase 1 clinical trial for the treatment of rabies; and CVSQIV to treat multivalent seasonal influenza; Flu SV mRNA fot treating nucleotides, single antigen seasonal influenza.