CureVac’s CVAC, +1.06% promising Phase 1 data for flu and COVID-19 vaccine candidates is a signal to investors that its messenger RNA technology is, in fact, competitive, according to UBS Securities analysts, who upgraded the company’s stock to Buy from Neutral on Thursday. They also more than doubled the price target, to $18 from $8. CureVac attempted to develop a first-generation COVID vaccine but failed. “As the first data of the 2nd-gen platform’s immunogenicity in humans, this is a major inflection point for the story, and suggests potentially competitive mRNA platform relative to mRNA peers,” the analysts wrote. CureVac’s stock has plunged 54.2% over the past year, while the broader S&P 500 SPX, +1.89% is down 14.1%.
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