HC Wainwright Issues Pessimistic Forecast for Valneva (NASDAQ:VALN) Stock Price

Valneva (NASDAQ:VALN) had its price objective cut by equities research analysts at HC Wainwright from $18.00 to $17.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 131.92% from the company’s previous close.

Valneva Price Performance

Shares of NASDAQ VALN opened at $7.33 on Wednesday. Valneva has a fifty-two week low of $3.62 and a fifty-two week high of $9.50. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.25 and a current ratio of 2.78. The company has a market cap of $595.64 million, a PE ratio of -56.38 and a beta of 1.98. The business has a 50-day simple moving average of $5.03 and a two-hundred day simple moving average of $5.64.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its holdings in shares of Valneva by 14.3% during 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 last quarter. AlphaCentric Advisors LLC increased its holdings in shares of 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 purchasing an additional 29,748 shares during the period. Finally, ABC Arbitrage SA purchased a new position in shares of Valneva in the fourth quarter worth about $84,000. Institutional investors and hedge funds own 11.39% of the company’s stock.

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.