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

Valneva SE (NASDAQ:VALN) gapped up before the market opened on Tuesday . The stock had previously closed at $7.00, but opened at $7.48. Valneva shares last traded at $7.54, with a volume of 18,726 shares traded.

Analysts Set New Price Targets

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

Valneva Stock Up 6.4 %

The company’s 50 day simple moving average is $4.79 and its 200-day simple moving average is $5.65. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.25.

Institutional Investors Weigh In On Valneva

Institutional investors and hedge funds have recently modified their holdings of the business. AlphaCentric Advisors LLC increased its stake in Valneva by 33.7% in the third quarter. AlphaCentric Advisors LLC now owns 118,000 shares of the company’s stock worth $717,000 after purchasing an additional 29,748 shares during the period. ABC Arbitrage SA purchased a new stake in shares of Valneva during the 4th quarter worth $84,000. Finally, Wells Fargo & Company MN boosted its position in Valneva by 14.3% during the fourth quarter. Wells Fargo & Company MN now owns 246,766 shares of the company’s stock valued at $1,079,000 after purchasing an additional 30,859 shares in the last quarter. 11.39% of the stock is owned by 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.