Short Interest in CureVac (NASDAQ:CVAC) Rises By 22.8%

CureVac (NASDAQ:CVAC) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 7,490,000 shares, a growth of 22.8% from the June 30th total of 6,100,000 shares. Based on an average daily trading volume, of 1,310,000 shares, the short-interest ratio is presently 5.7 days. Currently, 8.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVAC. Signaturefd LLC boosted its stake in CureVac by 232.0% during the 2nd quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock worth $75,000 after purchasing an additional 15,403 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in CureVac during the second quarter worth about $54,000. Tidal Investments LLC purchased a new stake in CureVac during the 1st quarter valued at about $175,000. Platinum Investment Management Ltd. raised its holdings in CureVac by 25.9% in the 1st quarter. Platinum Investment Management Ltd. now owns 626,684 shares of the company’s stock valued at $1,899,000 after acquiring an additional 128,778 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in CureVac by 66.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 43,019 shares of the company’s stock worth $130,000 after purchasing an additional 17,132 shares in the last quarter. Hedge funds and other institutional investors own 17.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CVAC. SVB Leerink downgraded shares of 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. Guggenheim reaffirmed a “neutral” rating on shares of CureVac in a research report on Friday, April 5th. Leerink Partnrs downgraded CureVac from an “outperform” rating to a “market perform” rating in a report on Thursday, April 25th. Finally, JMP Securities restated a “market outperform” rating and set a $18.00 price target on shares of CureVac in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.00.

CureVac Stock Performance

Shares of NASDAQ CVAC traded down $0.06 during mid-day trading on Tuesday, hitting $3.61. The stock had a trading volume of 540,288 shares, compared to its average volume of 1,029,293. The firm has a market cap of $808.21 million, a PE ratio of -2.71, a PEG ratio of 1.94 and a beta of 2.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.09 and a current ratio of 2.25. The company has a 50 day moving average of $3.66 and a two-hundred day moving average of $3.36. CureVac has a twelve month low of $2.21 and a twelve month high of $10.14.

CureVac (NASDAQ:CVAC) last posted its quarterly earnings results on Thursday, May 23rd. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.12). The firm had revenue of $13.43 million for the quarter, compared to analysts’ expectations of $14.51 million. CureVac had a negative net margin of 463.49% and a negative return on equity of 49.22%. Research analysts predict that CureVac will post 0.07 EPS for the current fiscal year.

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.