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

Valneva (NASDAQ:VALN)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $17.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 146.56% from the company’s current price.

Valneva Price Performance

Valneva stock traded down $0.23 during midday trading on Friday, reaching $6.90. 4,923 shares of the stock were exchanged, compared to its average volume of 64,338. The company’s fifty day moving average is $5.54 and its 200-day moving average is $5.69. 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 firm has a market cap of $560.29 million, a PE ratio of -53.04 and a beta of 1.98. Valneva has a 52 week low of $3.62 and a 52 week high of $9.50.

Institutional Investors Weigh In On Valneva

Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased 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 acquiring an additional 30,859 shares in the last quarter. AlphaCentric Advisors LLC lifted its holdings in Valneva by 33.7% during 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 in the last quarter. Finally, ABC Arbitrage SA purchased a new position in shares of Valneva in the fourth quarter worth $84,000. 11.39% of the stock is owned by hedge funds and other institutional investors.

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.