CureVac (NASDAQ:CVAC) Hits New 52-Week Low at $2.54

CureVac (NASDAQ:CVAC) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $2.54 and last traded at $2.62, with a volume of 157201 shares trading hands. The stock had previously closed at $2.65.

Analyst Upgrades and Downgrades

Separately, Guggenheim reiterated a “neutral” rating on shares of CureVac in a research note on Friday, April 5th.

CureVac Stock Down 3.6 %

The company has a current ratio of 3.56, a quick ratio of 3.41 and a debt-to-equity ratio of 0.06. The stock’s 50-day simple moving average is $3.20 and its two-hundred day simple moving average is $4.32.

Hedge Funds Weigh In On CureVac

A number of large investors have recently added to or reduced their stakes in CVAC. Price T Rowe Associates Inc. MD raised its position in CureVac by 588.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,813,896 shares of the company’s stock worth $26,583,000 after acquiring an additional 3,260,031 shares during the period. Alyeska Investment Group L.P. acquired a new position in CureVac during the first quarter worth $7,391,000. BlackRock Inc. raised its position in CureVac by 62.8% during the first quarter. BlackRock Inc. now owns 1,972,937 shares of the company’s stock worth $13,751,000 after acquiring an additional 761,024 shares during the period. Norges Bank acquired a new position in CureVac during the fourth quarter worth $2,960,000. Finally, Millennium Management LLC raised its position in CureVac by 61.6% during the fourth quarter. Millennium Management LLC now owns 866,244 shares of the company’s stock worth $5,223,000 after acquiring an additional 330,212 shares during the period. 17.26% of the stock is currently owned by institutional investors and hedge funds.

About CureVac

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.