CureVac (NASDAQ:CVAC – Get Free Report) was downgraded by equities research analysts at SVB Leerink from an “outperform” rating to a “market perform” rating in a report released on Thursday, FinViz reports. They currently have a $4.00 target price on the stock, down from their previous target price of $12.00. SVB Leerink’s target price points to a potential upside of 59.36% from the company’s current price.
Separately, Guggenheim reiterated a “neutral” rating on shares of CureVac in a report on Friday, April 5th.
Check Out Our Latest Stock Analysis on CVAC
CureVac Stock Down 3.5 %
Hedge Funds Weigh In On CureVac
Hedge funds have recently modified their holdings of the stock. Platinum Investment Management Ltd. boosted its position in CureVac by 37.1% in the fourth quarter. Platinum Investment Management Ltd. now owns 497,906 shares of the company’s stock valued at $2,096,000 after buying an additional 134,626 shares during the last quarter. Swiss National Bank boosted its position in CureVac by 1.8% in the 3rd quarter. Swiss National Bank now owns 221,406 shares of the company’s stock worth $1,462,000 after purchasing an additional 3,925 shares in the last quarter. TD Asset Management Inc boosted its position in CureVac by 66.8% in the 3rd quarter. TD Asset Management Inc now owns 209,094 shares of the company’s stock worth $1,428,000 after purchasing an additional 83,747 shares in the last quarter. Jump Financial LLC acquired a new position in shares of CureVac during the 4th quarter worth approximately $346,000. Finally, Deutsche Bank AG raised its stake in shares of CureVac by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 72,510 shares of the company’s stock worth $495,000 after buying an additional 3,491 shares during the period. Institutional investors and hedge funds 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.
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