Valneva (NASDAQ:VALN) Shares Gap Up – Time to Buy?

Shares of Valneva SE (NASDAQ:VALN) gapped up before the market opened on Friday . The stock had previously closed at $6.86, but opened at $7.11. Valneva shares last traded at $7.31, with a volume of 860 shares traded.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $17.00 price objective on shares of Valneva in a research report on Friday, February 28th.

Valneva Price Performance

The business’s 50 day moving average is $5.86 and its 200-day moving average is $5.64. The firm has a market capitalization of $574.52 million, a P/E ratio of -54.38 and a beta of 1.93. The company has a quick ratio of 2.25, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

Institutional Trading of Valneva

A hedge fund recently bought a new stake in Valneva stock. ABC Arbitrage SA purchased a new position in shares of Valneva SE (NASDAQ:VALN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,244 shares of the company’s stock, valued at approximately $84,000. 11.39% of the stock is currently owned by 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.