Short Interest in CureVac N.V. (NASDAQ:CVAC) Drops By 30.0%

Key Points

• Short interest in CureVac N.V. decreased by 30.0% in July, with total short interest falling to 741,700 shares from 1,060,000 shares.
• The company reported a net loss of ($0.30) earnings per share for the recent quarter, missing analysts' expectations and generating revenue of only $1.41 million.
• CureVac’s stock has a market cap of $1.22 billion and is currently rated as a "Hold" by analysts, with a consensus price target of $6.83.

CureVac N.V. (NASDAQ:CVAC - Get Free Report) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 741,700 shares, adropof30.0% from the July 15th total of 1,060,000 shares. Approximately0.8% of the shares of the company are sold short. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is currently 0.6 days. Approximately0.8% of the shares of the company are sold short.

CureVac Stock Performance

NASDAQ:CVAC traded up $0.02 during midday trading on Friday, hitting $5.44. The company's stock had a trading volume of 353,942 shares, compared to its average volume of 704,959. CureVac has a fifty-two week low of $2.37 and a fifty-two week high of $5.72. The firm's 50 day moving average is $5.44 and its 200-day moving average is $4.15. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.17 and a quick ratio of 7.64. The firm has a market cap of $1.22 billion, a P/E ratio of 5.67 and a beta of 2.53.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its position in CureVac by 354.8% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 5,608 shares of the company's stock worth $30,000 after acquiring an additional 4,375 shares during the period. Greenleaf Trust acquired a new stake in shares of CureVac in the first quarter valued at $31,000. Headlands Technologies LLC acquired a new stake in shares of CureVac in the second quarter valued at $35,000. Integrated Wealth Concepts LLC lifted its holdings in shares of CureVac by 25.0% in the first quarter. Integrated Wealth Concepts LLC now owns 15,000 shares of the company's stock valued at $42,000 after buying an additional 3,000 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in shares of CureVac in the fourth quarter valued at $48,000. Institutional investors and hedge funds own 17.26% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CVAC. UBS Group cut shares of CureVac from a "strong-buy" rating to a "neutral" rating and decreased their target price for the stock from $12.00 to $5.50 in a research note on Thursday, June 26th. Citigroup cut shares of CureVac to a "market perform" rating in a research report on Thursday, June 12th. Jefferies Financial Group reaffirmed a "hold" rating and set a $5.00 price objective (down from $7.00) on shares of CureVac in a research note on Friday, June 13th. JMP Securities restated a "market outperform" rating and issued a $10.00 price target on shares of CureVac in a report on Wednesday, May 28th. Finally, Citizens Jmp cut CureVac from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 12th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, CureVac currently has a consensus rating of "Hold" and a consensus price target of $6.83.

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.