Shares of CureVac (NASDAQ:CVAC – Get Free Report) were down 7.3% on Monday . The stock traded as low as $3.18 and last traded at $3.19. Approximately 60,766 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 940,576 shares. The stock had previously closed at $3.44.
Wall Street Analysts Forecast Growth
Separately, JMP Securities reiterated a “market outperform” rating and issued a $16.00 price objective on shares of CureVac in a research report on Monday.
Get Our Latest Analysis on CureVac
CureVac Trading Up 1.8 %
CureVac (NASDAQ:CVAC – Get Free Report) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). The business had revenue of $15.55 million during the quarter, compared to the consensus estimate of $10.07 million. CureVac had a negative net margin of 422.66% and a negative return on equity of 57.18%. On average, research analysts expect that CureVac will post 0.05 earnings per share for the current fiscal year.
Institutional Investors Weigh In On CureVac
A number of institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new position in CureVac in the second quarter valued at about $8,237,000. XTX Topco Ltd acquired a new stake in shares of CureVac in the 2nd quarter valued at approximately $108,000. Vanguard Personalized Indexing Management LLC raised its position in shares of CureVac by 99.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock valued at $147,000 after acquiring an additional 21,999 shares during the period. 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 acquiring an additional 15,403 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in CureVac during the second quarter valued at approximately $54,000. 17.26% of the stock is 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.
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