Valneva (NASDAQ:VALN) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Valneva (NASDAQ:VALN) in a report issued on Wednesday, Benzinga reports. The brokerage currently has a $26.00 price target on the stock.

Valneva Price Performance

Shares of Valneva stock traded down $0.12 on Wednesday, reaching $7.67. 624 shares of the stock were exchanged, compared to its average volume of 9,686. The firm’s 50 day moving average is $7.35 and its 200-day moving average is $7.70. Valneva has a one year low of $6.39 and a one year high of $14.94. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.22 and a current ratio of 2.64. The firm has a market cap of $534.12 million, a PE ratio of -19.01 and a beta of 2.20.

Hedge Funds Weigh In On Valneva

An institutional investor recently raised its position in Valneva stock. AlphaCentric Advisors LLC increased its stake in shares of Valneva SE (NASDAQ:VALN) by 42.3% in the second quarter, according to the company in 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 quarter. AlphaCentric Advisors LLC owned approximately 0.13% of Valneva worth $649,000 at the end of the most recent reporting period. 11.39% of the stock is owned by hedge funds and other 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.