CureVac (NASDAQ:CVAC) Shares Down 10.5%

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CureVac (NASDAQ:CVAC) dropped 10.5% during trading on Tuesday . The company traded as low as $106.64 and last traded at $107.52. Approximately 20,044 shares changed hands during trading, a decline of 98% from the average daily volume of 914,959 shares. The stock had previously closed at $120.20.

Several equities analysts have recently weighed in on the company. Credit Suisse Group started coverage on CureVac in a report on Monday, April 26th. They set an “underperform” rating on the stock. Guggenheim initiated coverage on shares of CureVac in a research report on Monday. They set a “buy” rating for the company. Finally, Zacks Investment Research lowered shares of CureVac from a “buy” rating to a “hold” rating in a report on Friday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $75.25.

The firm’s 50 day moving average price is $99.31 and its two-hundred day moving average price is $92.27.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. acquired a new stake in CureVac in the 1st quarter valued at $2,258,000. Daiwa Securities Group Inc. bought a new position in shares of CureVac in the 1st quarter valued at about $327,000. Creative Planning increased its position in shares of CureVac by 12.2% in the first quarter. Creative Planning now owns 3,490 shares of the company’s stock valued at $319,000 after acquiring an additional 380 shares during the last quarter. AlphaMark Advisors LLC bought a new stake in CureVac during the first quarter worth about $30,000. Finally, DekaBank Deutsche Girozentrale boosted its position in CureVac by 33.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 75,834 shares of the company’s stock valued at $6,933,000 after purchasing an additional 18,884 shares during the last quarter. Institutional investors and hedge funds own 4.32% of the company’s stock.

About CureVac (NASDAQ:CVAC)

CureVac N.V., a clinical-stage biopharmaceutical company, engages in developing various transformative medicines based on messenger ribonucleic acid (mRNA). Its lead proprietary programs include CV8102 that is in a Phase 1 dose escalating clinical trials for four types of cancers as a monotherapy and in combination with anti-PD-1; and CV7202, which is in a Phase 1 clinical trials as a vaccine candidate against rabies.

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