CureVac (NASDAQ:CVAC) Trading Down 5.6%

CureVac (NASDAQ:CVAC)’s share price traded down 5.6% during mid-day trading on Wednesday . The company traded as low as $3.34 and last traded at $3.34. 533,098 shares traded hands during trading, a decline of 47% from the average session volume of 998,294 shares. The stock had previously closed at $3.54.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Guggenheim reaffirmed a “neutral” rating on shares of CureVac in a research note on Friday, April 5th. SVB Leerink downgraded shares of CureVac from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $12.00 to $4.00 in a research note on Thursday, April 25th. Finally, Leerink Partnrs downgraded shares of CureVac from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th.

CureVac Trading Down 6.2 %

The firm has a market cap of $743.28 million, a PE ratio of -2.52 and a beta of 2.68. The company’s 50 day moving average price is $3.36 and its two-hundred day moving average price is $3.54. The company has a quick ratio of 2.09, a current ratio of 2.25 and a debt-to-equity ratio of 0.08.

CureVac (NASDAQ:CVAC) last posted its quarterly earnings results on Thursday, May 23rd. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.12). The company had revenue of $13.43 million during the quarter, compared to analysts’ expectations of $14.51 million. CureVac had a negative return on equity of 49.22% and a negative net margin of 463.49%. As a group, sell-side analysts forecast that CureVac will post -1.11 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVAC. Swiss National Bank grew its holdings in CureVac by 1.8% during the 3rd 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 in the last quarter. Deutsche Bank AG grew its holdings in 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 acquiring an additional 3,491 shares in the last quarter. Federated Hermes Inc. grew its holdings in CureVac by 33.3% during the 3rd quarter. Federated Hermes Inc. now owns 40,000 shares of the company’s stock worth $273,000 after acquiring an additional 10,000 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in CureVac by 351.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 25,887 shares of the company’s stock worth $109,000 after acquiring an additional 20,149 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in CureVac during the 4th quarter worth about $71,000. 17.26% of the stock is currently owned by institutional investors.

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.