CureVac N.V. (NASDAQ:CVAC) Short Interest Up 26.9% in August

Key Points

• CureVac N.V. experienced a **26.9% increase** in short interest in August, rising from 670,000 shares to **850,300 shares** as of August 31st, indicating heightened bearish sentiment among investors.
• Analyst ratings for CureVac have shifted, with **several downgrades** recently issued, including a drop from "strong-buy" to "hold," and a consensus target price adjustment down to **$6.83**.
• The company reported a quarterly loss of **($0.30) earnings per share**, missing analysts' expectations of ($0.15), with revenues falling short at **$1.41 million** compared to the anticipated $4.27 million.

CureVac N.V. (NASDAQ:CVAC - Get Free Report) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 850,300 shares, a growth of 26.9% from the August 15th total of 670,000 shares. Currently, 0.9% of the company's stock are sold short. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is presently 0.7 days. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is presently 0.7 days. Currently, 0.9% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Jefferies Financial Group reiterated a "hold" rating and issued a $5.00 price target (down from $7.00) on shares of CureVac in a report on Friday, June 13th. JMP Securities restated a "market outperform" rating and set a $10.00 price target on shares of CureVac in a research note on Wednesday, May 28th. UBS Group downgraded shares of CureVac from a "strong-buy" rating to a "neutral" rating and lowered their price target for the stock from $12.00 to $5.50 in a report on Thursday, June 26th. Citizens Jmp cut shares of CureVac from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 12th. Finally, Citigroup cut shares of CureVac to a "market perform" rating in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $6.83.

CureVac Stock Performance

Shares of NASDAQ CVAC remained flat at $5.35 during trading hours on Friday. The company had a trading volume of 299,437 shares, compared to its average volume of 447,846. CureVac has a 1-year low of $2.37 and a 1-year high of $5.72. The company has a quick ratio of 6.16, a current ratio of 6.17 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.20 billion, a P/E ratio of 5.57 and a beta of 2.53. The company's 50 day moving average price is $5.41 and its 200-day moving average price is $4.43.

CureVac (NASDAQ:CVAC - Get Free Report) last issued its earnings results on Thursday, August 21st. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.15). CureVac had a net margin of 38.21% and a return on equity of 29.57%. The firm had revenue of $1.41 million during the quarter, compared to analyst estimates of $4.27 million. As a group, analysts expect that CureVac will post 0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On CureVac

Several institutional investors have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. bought a new position in CureVac during the 4th quarter worth $66,000. Northern Trust Corp boosted its stake in CureVac by 98.1% in the fourth quarter. Northern Trust Corp now owns 60,100 shares of the company's stock valued at $205,000 after buying an additional 29,759 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of CureVac during the fourth quarter valued at about $391,000. Two Sigma Advisers LP acquired a new stake in shares of CureVac during the fourth quarter valued at about $48,000. Finally, Nuveen LLC bought a new position in shares of CureVac during the first quarter worth about $232,000. 17.26% of the stock is currently owned by institutional investors and hedge funds.

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.