Valneva (NASDAQ:VALN) Trading 4% Higher

Valneva SE (NASDAQ:VALN)’s share price traded up 4% during mid-day trading on Wednesday . The stock traded as high as $7.75 and last traded at $7.75. 1,387 shares were traded during mid-day trading, a decline of 86% from the average session volume of 9,729 shares. The stock had previously closed at $7.45.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $26.00 price target on shares of Valneva in a report on Friday, August 2nd.

Valneva Stock Performance

The company has a quick ratio of 2.22, a current ratio of 2.64 and a debt-to-equity ratio of 0.84. The stock has a market cap of $534.82 million, a P/E ratio of -18.73 and a beta of 2.20. The stock has a fifty day simple moving average of $7.37 and a 200-day simple moving average of $7.70.

Hedge Funds Weigh In On Valneva

A hedge fund recently raised its stake in Valneva stock. AlphaCentric Advisors LLC increased its holdings in shares of Valneva SE (NASDAQ:VALN) by 42.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,252 shares of the company’s stock after purchasing an additional 26,248 shares during the period. AlphaCentric Advisors LLC owned approximately 0.13% of Valneva worth $649,000 at the end of the most recent quarter. Institutional investors and hedge funds own 11.39% of the company’s stock.

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.