HC Wainwright Cuts Valneva (NASDAQ:VALN) Price Target to $17.00

Valneva (NASDAQ:VALN) had its price target decreased by HC Wainwright from $18.00 to $17.00 in a report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Valneva Stock Performance

Shares of VALN stock opened at $7.54 on Wednesday. Valneva has a 12 month low of $3.62 and a 12 month high of $9.50. The company’s fifty day simple moving average is $5.10 and its 200-day simple moving average is $5.66. The firm has a market cap of $612.70 million, a PE ratio of -58.00 and a beta of 1.98. The company has a quick ratio of 2.25, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

Hedge Funds Weigh In On Valneva

A number of large investors have recently modified their holdings of the business. Wells Fargo & Company MN raised its holdings in Valneva by 14.3% during the fourth quarter. Wells Fargo & Company MN now owns 246,766 shares of the company’s stock worth $1,079,000 after acquiring an additional 30,859 shares in the last quarter. ABC Arbitrage SA bought a new stake in shares of Valneva during the 4th quarter worth approximately $84,000. Finally, AlphaCentric Advisors LLC raised its stake in shares of Valneva by 33.7% during 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 in the last quarter. 11.39% of the stock is currently owned by institutional investors and hedge funds.

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.