CureVac (NASDAQ:CVAC) Short Interest Update

CureVac (NASDAQ:CVAC) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 6,280,000 shares, a drop of 16.2% from the July 15th total of 7,490,000 shares. Currently, 6.7% of the shares of the stock are short sold. Based on an average daily volume of 1,300,000 shares, the days-to-cover ratio is currently 4.8 days.

Analysts Set New Price Targets

Several analysts have commented on CVAC shares. JMP Securities decreased their price target on shares of CureVac from $18.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Friday. SVB Leerink lowered CureVac from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $12.00 to $4.00 in a research note on Thursday, April 25th. Finally, Leerink Partnrs cut CureVac from an “outperform” rating to a “market perform” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, CureVac currently has a consensus rating of “Hold” and an average target price of $9.33.

CureVac Trading Down 0.3 %

CVAC traded down $0.01 during trading hours on Friday, reaching $3.24. 517,596 shares of the company’s stock traded hands, compared to its average volume of 999,556. The firm has a 50-day moving average price of $3.48 and a 200 day moving average price of $3.33. The firm has a market capitalization of $725.37 million, a PE ratio of -2.44, a PEG ratio of 1.87 and a beta of 2.64. The company has a quick ratio of 2.09, a current ratio of 2.25 and a debt-to-equity ratio of 0.08. CureVac has a 52-week low of $2.21 and a 52-week high of $9.59.

CureVac (NASDAQ:CVAC) last issued its earnings results 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). The firm had revenue of $13.43 million for the quarter, compared to the consensus estimate of $14.51 million. CureVac had a negative net margin of 463.49% and a negative return on equity of 49.22%. As a group, sell-side analysts predict that CureVac will post 0.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Platinum Investment Management Ltd. raised its stake in shares of CureVac by 25.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 626,684 shares of the company’s stock worth $1,899,000 after acquiring an additional 128,778 shares in the last quarter. Jump Financial LLC acquired a new position in shares of CureVac during the fourth quarter worth $346,000. Tidal Investments LLC acquired a new position in shares of CureVac during the first quarter worth $175,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of CureVac by 45.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,122 shares of the company’s stock valued at $184,000 after purchasing an additional 13,687 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of CureVac by 99.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock worth $147,000 after purchasing an additional 21,999 shares in the last quarter. 17.26% of the stock is owned by institutional investors.

About CureVac

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.