CureVac (NASDAQ:CVAC – Get Free Report)’s stock price dropped 5.6% during trading on Wednesday . The stock traded as low as $3.34 and last traded at $3.34. Approximately 533,098 shares were traded during trading, a decline of 47% from the average daily volume of 998,294 shares. The stock had previously closed at $3.54.
Wall Street Analysts Forecast Growth
CVAC has been the subject of several research analyst reports. Leerink Partnrs lowered CureVac from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. Guggenheim reiterated a “neutral” rating on shares of CureVac in a research note on Friday, April 5th. Finally, SVB Leerink lowered CureVac from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $12.00 to $4.00 in a research note on Thursday, April 25th.
View Our Latest Analysis on CVAC
CureVac Trading Down 6.2 %
CureVac (NASDAQ:CVAC – Get Free Report) last issued its quarterly earnings data on Thursday, May 23rd. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.12). CureVac had a negative net margin of 463.49% and a negative return on equity of 49.22%. The business had revenue of $13.43 million for the quarter, compared to analyst estimates of $14.51 million. As a group, research analysts expect that CureVac will post -1.11 EPS for the current fiscal year.
Institutional Investors Weigh In On CureVac
Hedge funds have recently bought and sold shares of the business. Ballentine Partners LLC acquired a new stake in CureVac during the 1st quarter valued at approximately $38,000. Vontobel Holding Ltd. bought a new position in CureVac during the 4th quarter worth approximately $45,000. Vanguard Personalized Indexing Management LLC bought a new position in CureVac during the 4th quarter worth approximately $68,000. International Assets Investment Management LLC bought a new position in CureVac during the 4th quarter worth approximately $71,000. Finally, Aristides Capital LLC bought a new position in CureVac during the 4th quarter worth approximately $100,000. Institutional investors and hedge funds own 17.26% of the company’s stock.
CureVac Company Profile
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.
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