HC Wainwright Reaffirms “Buy” Rating for Valneva (NASDAQ:VALN)

Valneva (NASDAQ:VALN)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $17.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 146.56% from the stock’s current price.

Valneva Stock Down 3.2 %

Shares of Valneva stock traded down $0.23 during trading hours on Friday, reaching $6.90. 4,923 shares of the company’s stock were exchanged, compared to its average volume of 64,338. Valneva has a fifty-two week low of $3.62 and a fifty-two week high of $9.50. The stock has a market cap of $560.29 million, a P/E ratio of -53.04 and a beta of 1.98. The company has a 50 day moving average of $5.54 and a two-hundred day moving average of $5.69. The company has a current ratio of 2.78, a quick ratio of 2.25 and a debt-to-equity ratio of 0.70.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VALN. ABC Arbitrage SA acquired a new stake in Valneva in the fourth quarter valued at approximately $84,000. AlphaCentric Advisors LLC lifted its holdings in Valneva by 33.7% in the third quarter. AlphaCentric Advisors LLC now owns 118,000 shares of the company’s stock valued at $717,000 after buying an additional 29,748 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Valneva by 14.3% in the fourth quarter. Wells Fargo & Company MN now owns 246,766 shares of the company’s stock valued at $1,079,000 after buying an additional 30,859 shares during the period. 11.39% of the stock is owned by institutional investors.

Valneva Company Profile

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.