Valneva (NASDAQ:VALN) Shares Gap Down to $8.50

Shares of Valneva SE (NASDAQ:VALN) gapped down before the market opened on Tuesday . The stock had previously closed at $8.50, but opened at $8.15. Valneva shares last traded at $8.06, with a volume of 9,082 shares.

Analysts Set New Price Targets

A number of brokerages have issued reports on VALN. Guggenheim lowered their price target on Valneva from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. HC Wainwright reissued a “buy” rating and set a $26.00 target price on shares of Valneva in a report on Thursday, March 21st.

Valneva Stock Down 5.8 %

The business has a fifty day simple moving average of $7.69 and a 200 day simple moving average of $9.69. The firm has a market cap of $556.37 million, a price-to-earnings ratio of -5.07 and a beta of 2.25. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.65 and a quick ratio of 1.37.

Valneva (NASDAQ:VALN) last announced its earnings results on Wednesday, March 20th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.70). Valneva had a negative net margin of 65.99% and a negative return on equity of 59.48%. The firm had revenue of $45.12 million for the quarter, compared to analyst estimates of $45.06 million. As a group, equities analysts forecast that Valneva SE will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Valneva

Several hedge funds and other institutional investors have recently made changes to their positions in VALN. Jane Street Group LLC increased 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 valued at $569,000 after purchasing an additional 7,664 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Valneva in the first quarter valued at approximately $858,000. Finally, UBS Group AG acquired a new stake in shares of Valneva in the second quarter valued at approximately $31,000. Institutional investors and hedge funds 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.