CureVac N.V. (NASDAQ:CVAC) Short Interest Down 30.0% in July

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 recipient 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. Based on an average daily trading volume, of 1,210,000 shares, the days-to-cover ratio is currently 0.6 days. Currently,0.8% of the shares of the company are short sold. Currently,0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,210,000 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On CureVac

Several hedge funds have recently added to or reduced their stakes in CVAC. Alpine Associates Management Inc. acquired a new stake in shares of CureVac during the second quarter worth about $10,703,000. Millennium Management LLC raised its holdings in CureVac by 10.3% in the 1st quarter. Millennium Management LLC now owns 1,816,984 shares of the company's stock valued at $5,033,000 after acquiring an additional 169,947 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of CureVac during the 2nd quarter worth $6,419,000. Water Island Capital LLC acquired a new position in CureVac in the 2nd quarter worth about $5,197,000. Finally, Alyeska Investment Group L.P. increased its holdings in CureVac by 25.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 500,000 shares of the company's stock worth $1,705,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors own 17.26% of the company's stock.

CureVac Trading Down 0.1%

Shares of NASDAQ:CVAC traded down $0.0050 during midday trading on Monday, reaching $5.4350. The company had a trading volume of 322,203 shares, compared to its average volume of 943,472. CureVac has a 1-year low of $2.37 and a 1-year high of $5.72. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 5.66 and a beta of 2.53. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.16 and a current ratio of 6.17. The company has a fifty day simple moving average of $5.44 and a two-hundred day simple moving average of $4.15.

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

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.