Valneva (NASDAQ:VALN) Shares Gap Down to $13.48

Shares of Valneva SE (NASDAQ:VALNGet Rating) gapped down before the market opened on Wednesday . The stock had previously closed at $13.48, but opened at $12.40. Valneva shares last traded at $12.40, with a volume of 1 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Kepler Capital Markets cut shares of Valneva from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. HC Wainwright reduced their target price on shares of Valneva from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, August 19th.

Valneva Price Performance

The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 0.72. The firm’s fifty day simple moving average is $18.61 and its 200-day simple moving average is $24.48.

Valneva (NASDAQ:VALNGet Rating) last announced its earnings results on Thursday, August 11th. The company reported ($2.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.32) by ($1.54). The company had revenue of $76.05 million for the quarter, compared to the consensus estimate of $21.26 million. As a group, research analysts predict that Valneva SE will post -1.21 EPS for the current year.

Hedge Funds Weigh In On Valneva

Several hedge funds have recently modified their holdings of VALN. UBS Group AG purchased a new position in shares of Valneva in the second quarter worth $31,000. Jane Street Group LLC lifted its holdings in shares of Valneva by 85.9% in the first quarter. Jane Street Group LLC now owns 16,584 shares of the company’s stock worth $569,000 after buying an additional 7,664 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Valneva in the first quarter worth $858,000. Hedge funds and other institutional investors own 16.39% of the company’s stock.

About Valneva

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Valneva SE, a specialty vaccine company, focuses on the development and commercialization of prophylactic vaccines for infectious diseases with unmet needs. Its commercial vaccines for travelers include 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; and VLA2001, a vaccine candidate against SARS-CoV-2.

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