Valneva (NASDAQ:VALN) Shares Gap Up – Here’s What Happened

Valneva SE (NASDAQ:VALN) gapped up prior to trading on Tuesday . The stock had previously closed at $6.67, but opened at $7.40. Valneva shares last traded at $7.43, with a volume of 37,602 shares traded.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Valneva in a research note on Friday, January 31st.

Valneva Price Performance

The company has a current ratio of 2.78, a quick ratio of 2.25 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $595.64 million, a P/E ratio of -56.38 and a beta of 1.98. The firm has a fifty day moving average of $5.03 and a 200 day moving average of $5.64.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VALN. ABC Arbitrage SA purchased a new stake in Valneva in the fourth quarter worth approximately $84,000. AlphaCentric Advisors LLC lifted its holdings in shares of Valneva by 33.7% during the 3rd quarter. AlphaCentric Advisors LLC now owns 118,000 shares of the company’s stock valued at $717,000 after buying an additional 29,748 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Valneva by 14.3% during the 4th 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 period. 11.39% of the stock is owned by hedge funds and other 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.