Point72 Asset Management L.P. Invests $8.24 Million in CureVac (NASDAQ:CVAC)

Point72 Asset Management L.P. purchased a new stake in CureVac (NASDAQ:CVAC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,422,728 shares of the company’s stock, valued at approximately $8,237,000. Point72 Asset Management L.P. owned 1.08% of CureVac at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Platinum Investment Management Ltd. grew its holdings in shares of CureVac by 25.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 626,684 shares of the company’s stock worth $1,899,000 after purchasing an additional 128,778 shares in the last quarter. Tidal Investments LLC bought a new stake in CureVac during the first quarter worth about $175,000. Vanguard Personalized Indexing Management LLC grew its stake in CureVac by 99.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 44,044 shares of the company’s stock worth $147,000 after buying an additional 21,999 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in CureVac by 66.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 43,019 shares of the company’s stock valued at $130,000 after buying an additional 17,132 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of CureVac in the 2nd quarter valued at approximately $108,000. Institutional investors and hedge funds own 17.26% of the company’s stock.

CureVac Stock Performance

NASDAQ:CVAC opened at $2.97 on Wednesday. CureVac has a twelve month low of $2.21 and a twelve month high of $6.93. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.09. The stock’s 50-day simple moving average is $3.25 and its 200 day simple moving average is $3.26. The firm has a market capitalization of $664.92 million, a PE ratio of -2.23, a price-to-earnings-growth ratio of 2.19 and a beta of 2.62.

CureVac (NASDAQ:CVAC) last posted its earnings results on Thursday, August 15th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). The company had revenue of $15.55 million during the quarter, compared to the consensus estimate of $10.07 million. CureVac had a negative return on equity of 57.18% and a negative net margin of 422.66%. On average, analysts anticipate that CureVac will post 0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JMP Securities reiterated a “market outperform” rating and set a $16.00 price target on shares of CureVac in a research report on Monday, September 16th.

CureVac 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.