Valneva (NASDAQ:VALN) Shares Gap Up – Here’s What Happened

Valneva SE (NASDAQ:VALN) gapped up before the market opened on Thursday . The stock had previously closed at $6.73, but opened at $7.06. Valneva shares last traded at $7.15, with a volume of 6,867 shares trading hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $17.00 price objective on shares of Valneva in a report on Friday.

Valneva Stock Down 1.1 %

The firm has a market capitalization of $582.64 million, a price-to-earnings ratio of -55.15 and a beta of 1.93. The stock has a 50 day moving average of $6.34 and a 200 day moving average of $5.61. The company has a quick ratio of 2.25, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

Valneva (NASDAQ:VALN) last posted its quarterly earnings results on Wednesday, March 19th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.32). The firm had revenue of $56.48 million during the quarter, compared to analyst estimates of $55.64 million. Valneva had a negative return on equity of 3.93% and a negative net margin of 4.35%. As a group, analysts expect that Valneva SE will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valneva

A hedge fund recently raised its stake in Valneva stock. Wells Fargo & Company MN raised its stake in Valneva SE (NASDAQ:VALN) by 14.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,766 shares of the company’s stock after acquiring an additional 30,859 shares during the period. Wells Fargo & Company MN owned 0.30% of Valneva worth $1,079,000 as of its most recent SEC filing. 11.39% of the stock is owned by institutional investors.

About Valneva

Valneva SE, a specialty vaccine company, develops, manufactures, and commercializes prophylactic vaccines for infectious diseases with unmet needs. It offers IXIARO, an inactivated Vero cell culture-derived Japanese encephalitis vaccine indicated for active immunization against Japanese encephalitis; DUKORAL, an oral vaccine for the prevention of diarrhea caused by Vibrio cholera and/or heat-labile toxin producing enterotoxigenic Escherichia coli bacterium; IXCHIQ, a single-dose, live-attenuated vaccine for the prevention of disease caused by chikungunya virus; and VLA2001, an inactivated whole-virus COVID-19 vaccine.