HC Wainwright Reiterates Buy Rating for Valneva (NASDAQ:VALN)

Valneva (NASDAQ:VALN)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $17.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 151.85% from the stock’s previous close.

Valneva Trading Down 5.2 %

NASDAQ VALN opened at $6.75 on Friday. 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 stock has a 50 day simple moving average of $5.59 and a two-hundred day simple moving average of $5.68. The stock has a market cap of $548.51 million, a P/E ratio of -51.92 and a beta of 1.98.

Institutional Trading of Valneva

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN boosted its stake 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 buying an additional 30,859 shares during the last quarter. AlphaCentric Advisors LLC boosted its stake 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 buying an additional 29,748 shares during the last quarter. Finally, ABC Arbitrage SA purchased a new position in shares of Valneva in the 4th quarter worth $84,000. 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.