CVAC - CureVac jumps as UBS upgrades to Buy on mRNA potential

• CureVac N.V. ( NASDAQ: CVAC ) added ~9% pre-market Thursday after UBS upgraded the German biotech to Buy from Neutral, citing the Phase 1 data the company recently released for the mRNA-based COVID-19 and flu shots it co-develops with GSK ( GSK ).
• The early readouts for vaccines, which the company said would support the next phase of their clinical studies in 2023, have recently sparked a rally in CureVac ( CVAC ) shares, adding ~37% over the past 30 days.
• The analyst Eliana Merle argues that the initial clinical data from the company's second-generation mRNA platform is a "major milestone and clearing event" and calls the first-in-human data about its immunogenicity a "major inflection point for the story."
• Despite the strong gains following the data release, the stock is positioned to generate further gains and offers an "underappreciated opportunity" at its current valuation, the analyst said, lifting the price target on CureVac ( CVAC ) to $18 from $8 per share.
• The recent uptick in CureVac ( CVAC ) shares has defied a Sell rating Seeking Alpha contributor Alberto Abaterusso issued on the company in December.

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