CureVac (NASDAQ:CVAC) Issues Quarterly Earnings Results

CureVac (NASDAQ:CVACGet Free Report) released its earnings results on Tuesday. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.02, reports. The company had revenue of $17.94 million during the quarter, compared to analysts’ expectations of $15.01 million.

CureVac Stock Down 0.9 %

Shares of CVAC opened at $5.48 on Friday. CureVac has a twelve month low of $4.95 and a twelve month high of $12.79. The company has a current ratio of 3.86, a quick ratio of 3.72 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $6.31 and its 200-day moving average price is $8.33.

Hedge Funds Weigh In On CureVac

Hedge funds have recently bought and sold shares of the company. US Bancorp DE boosted its holdings in CureVac by 47.5% in the 1st quarter. US Bancorp DE now owns 3,693 shares of the company’s stock valued at $26,000 after purchasing an additional 1,189 shares during the period. Signaturefd LLC boosted its stake in CureVac by 459.5% during the second quarter. Signaturefd LLC now owns 5,338 shares of the company’s stock valued at $56,000 after buying an additional 4,384 shares during the period. China Universal Asset Management Co. Ltd. grew its position in CureVac by 95.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,738 shares of the company’s stock worth $39,000 after buying an additional 2,804 shares in the last quarter. Optiver Holding B.V. increased its stake in CureVac by 2,407.0% in the 3rd quarter. Optiver Holding B.V. now owns 6,844 shares of the company’s stock worth $47,000 after acquiring an additional 6,571 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of CureVac in the 1st quarter valued at about $59,000. Hedge funds and other institutional investors own 15.76% of the company’s stock.

Analyst Ratings Changes

Separately, Bank of America dropped their price objective on shares of CureVac from $10.00 to $8.00 and set an “underperform” rating on the stock in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, CureVac has a consensus rating of “Moderate Buy” and an average target price of $16.80.

Get Our Latest Stock Analysis on CureVac

CureVac Company Profile

(Get Free Report)

CureVac N.V., a clinical-stage 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, a prophylactic mRNA-based vaccine, which has completed Phase 1 clinical trial for rabies virus glycoprotein; and CVSQIV, which is in Phase 1 clinical trial against influenza, as well as vaccine for lassa fever, yellow fever, respiratory syncytial virus, rotavirus, malaria, and universal influenza.

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