Valneva (NASDAQ:VALN) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Valneva (NASDAQ:VALN) in a report issued on Friday,Benzinga reports. They currently have a $17.00 target price on the stock.

Valneva Price Performance

VALN opened at $6.75 on Friday. The stock has a 50-day moving average price of $5.59 and a 200-day moving average price of $5.69. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.25. The firm has a market cap of $548.51 million, a PE ratio of -51.92 and a beta of 1.98. Valneva has a 1 year low of $3.62 and a 1 year high of $9.50.

Hedge Funds Weigh In On Valneva

Several large investors have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new position in shares of Valneva in the 4th quarter worth about $84,000. AlphaCentric Advisors LLC raised its position in shares of Valneva by 33.7% in the 3rd quarter. AlphaCentric Advisors LLC now owns 118,000 shares of the company’s stock worth $717,000 after purchasing an additional 29,748 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Valneva by 14.3% in the 4th quarter. Wells Fargo & Company MN now owns 246,766 shares of the company’s stock worth $1,079,000 after purchasing an additional 30,859 shares during the last quarter. Hedge funds and other institutional investors 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.