Short Interest in CureVac (NASDAQ:CVAC) Drops By 6.4%

CureVac (NASDAQ:CVAC) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 3,940,000 shares, a decline of 6.4% from the November 30th total of 4,210,000 shares. Approximately 4.2% of the company’s shares are sold short. Based on an average trading volume of 508,300 shares, the days-to-cover ratio is presently 7.8 days.

Institutional Trading of CureVac

Several institutional investors have recently made changes to their positions in CVAC. Private Advisor Group LLC purchased a new stake in CureVac in the 3rd quarter worth approximately $30,000. International Assets Investment Management LLC purchased a new position in shares of CureVac during the 3rd quarter valued at $35,000. Integrated Wealth Concepts LLC acquired a new position in shares of CureVac in the third quarter worth $35,000. Bank of New York Mellon Corp purchased a new stake in shares of CureVac during the second quarter worth $54,000. Finally, Ballentine Partners LLC boosted its position in CureVac by 58.6% during the third quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock valued at $67,000 after purchasing an additional 8,406 shares during the last quarter. 17.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price objective on shares of CureVac in a research note on Monday, September 16th.

CureVac Trading Up 9.3 %

Shares of NASDAQ CVAC opened at $3.41 on Thursday. The firm has a market capitalization of $763.43 million, a PE ratio of 6.20, a PEG ratio of 0.24 and a beta of 2.59. CureVac has a one year low of $2.21 and a one year high of $5.28. The company has a current ratio of 6.20, a quick ratio of 6.19 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $2.89 and a two-hundred day moving average price of $3.11.

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.