CureVac (NASDAQ:CVAC) Hits New 52-Week Low at $2.34

CureVac (NASDAQ:CVAC) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.34 and last traded at $2.41, with a volume of 214016 shares trading hands. The stock had previously closed at $2.60.

Analysts Set New Price Targets

CVAC has been the topic of several recent research reports. SVB Leerink lowered 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. Guggenheim reaffirmed a “neutral” rating on shares of CureVac in a research note on Friday, April 5th.

CureVac Stock Performance

The firm’s 50 day moving average is $3.08 and its two-hundred day moving average is $4.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.41 and a current ratio of 3.56.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ballentine Partners LLC bought a new position in CureVac during the 1st quarter worth approximately $38,000. Platinum Investment Management Ltd. boosted its stake in CureVac by 37.1% during the 4th quarter. Platinum Investment Management Ltd. now owns 497,906 shares of the company’s stock worth $2,096,000 after acquiring an additional 134,626 shares during the last quarter. Aristides Capital LLC bought a new position in CureVac during the 4th quarter worth approximately $100,000. Dynamic Technology Lab Private Ltd bought a new position in CureVac during the 4th quarter worth approximately $160,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in CureVac during the 4th quarter worth approximately $68,000. Institutional investors own 17.26% of the company’s stock.

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.