China Universal Asset Management Co. Ltd. Increases Holdings in CureVac (NASDAQ:CVAC)

China Universal Asset Management Co. Ltd. boosted its stake in shares of CureVac (NASDAQ:CVAC) by 63.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,143 shares of the company’s stock after acquiring an additional 16,792 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in CureVac were worth $127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC bought a new position in shares of CureVac during the 3rd quarter valued at approximately $30,000. International Assets Investment Management LLC purchased a new position in CureVac during the third quarter worth $35,000. Bank of New York Mellon Corp bought a new stake in shares of CureVac in the 2nd quarter worth about $54,000. Ballentine Partners LLC boosted its stake in shares of CureVac by 58.6% during the 3rd quarter. Ballentine Partners LLC now owns 22,755 shares of the company’s stock worth $67,000 after purchasing an additional 8,406 shares during the period. Finally, Signaturefd LLC grew its holdings in CureVac by 232.0% during the 2nd quarter. Signaturefd LLC now owns 22,043 shares of the company’s stock valued at $75,000 after purchasing an additional 15,403 shares during the last quarter. 17.26% of the stock is currently owned by hedge funds and other institutional investors.

CureVac Stock Performance

Shares of NASDAQ:CVAC opened at $2.74 on Friday. CureVac has a 52 week low of $2.21 and a 52 week high of $6.30. The firm has a 50 day moving average of $3.00 and a 200 day moving average of $3.24. The company has a market capitalization of $613.43 million, a price-to-earnings ratio of -2.04, a price-to-earnings-growth ratio of 2.07 and a beta of 2.62. The company has a quick ratio of 2.28, a current ratio of 2.29 and a debt-to-equity ratio of 0.09.

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

Analyst Upgrades and Downgrades

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

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.