Valneva (NASDAQ:VALN) Trading 6.1% Higher

Valneva SE (NASDAQ:VALN) shot up 6.1% during mid-day trading on Thursday . The stock traded as high as $8.22 and last traded at $8.22. 1,859 shares were traded during mid-day trading, a decline of 80% from the average session volume of 9,146 shares. The stock had previously closed at $7.75.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VALN. HC Wainwright reiterated a “buy” rating and issued a $26.00 target price on shares of Valneva in a research report on Thursday, March 21st. Guggenheim decreased their target price on shares of Valneva from $18.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd.

Valneva Price Performance

The stock’s 50 day simple moving average is $7.68 and its two-hundred day simple moving average is $9.65. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 1.65. The firm has a market capitalization of $564.71 million, a PE ratio of -5.20 and a beta of 2.25.

Valneva (NASDAQ:VALN) last announced its quarterly earnings results on Wednesday, March 20th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.70). The firm had revenue of $45.12 million for the quarter, compared to analyst estimates of $45.06 million. Valneva had a negative net margin of 65.99% and a negative return on equity of 59.48%. On average, sell-side analysts forecast that Valneva SE will post 0.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG purchased a new position in Valneva in the second quarter worth approximately $31,000. Jane Street Group LLC grew its position in Valneva by 85.9% in the first quarter. Jane Street Group LLC now owns 16,584 shares of the company’s stock worth $569,000 after acquiring an additional 7,664 shares during the period. Finally, Bank of America Corp DE purchased a new position in Valneva in the first quarter worth approximately $858,000. 11.39% of the stock is currently owned by hedge funds and other 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.