Valneva (NASDAQ:VALN) Trading 7.1% Higher – Here’s Why

Valneva SE Sponsored ADR (NASDAQ:VALN) rose 7.1% during trading on Wednesday . The company traded as high as $6.98 and last traded at $7.0340. Approximately 32,776 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 67,036 shares. The stock had previously closed at $6.57.

Analyst Ratings Changes

A number of equities analysts have issued reports on VALN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Valneva in a report on Thursday, June 18th. Wall Street Zen raised Valneva from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. Finally, TD Cowen assumed coverage on shares of Valneva in a research report on Tuesday, August 11th. They issued a “buy” rating and a $12.00 price target on the stock. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.30.

Valneva Stock Performance

The firm has a market cap of $669.92 million, a P/E ratio of -3.35 and a beta of 1.67. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.69 and a current ratio of 2.16. The stock’s 50-day moving average is $5.65 and its 200 day moving average is $6.63.

Valneva (NASDAQ:VALN) last posted its earnings results on Thursday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.21). Valneva had a negative net margin of 110.33% and a negative return on equity of 153.20%. The business had revenue of $39.37 million during the quarter, compared to analyst estimates of $44.17 million. On average, research analysts predict that Valneva SE Sponsored ADR will post -1.27 earnings per share for the current year.

Hedge Funds Weigh In On Valneva

Several institutional investors and hedge funds have recently modified their holdings of the business. Marex Group plc acquired a new stake in Valneva during the 2nd quarter worth approximately $64,000. XTX Topco Ltd acquired a new position in shares of Valneva in the fourth quarter valued at approximately $94,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Valneva during the third quarter worth $124,000. 11.39% of the stock is currently owned by institutional investors and hedge funds.

About Valneva

Valneva SE is a specialty vaccine company focused on the development and commercialization of prophylactic vaccines for infectious diseases. Headquartered in Saint-Herblain, France, the company applies inactivated whole-cell and recombinant technology platforms to address public health needs. Valneva’s research and development efforts span a range of viral and bacterial pathogens, with an emphasis on travel-related and emerging infectious diseases.

Among its marketed products, Valneva offers IXIARO®/JESPECT® for the prevention of Japanese encephalitis and DUKORAL® for the prevention of cholera and diarrhea caused by enterotoxigenic Escherichia coli.