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

Valneva SE (NASDAQ:VALN) gapped up before the market opened on Thursday . The stock had previously closed at $6.73, but opened at $7.06. Valneva shares last traded at $7.15, with a volume of 6,867 shares.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $17.00 price objective on shares of Valneva in a research report on Friday.

Valneva Stock Performance

The company has a quick ratio of 2.25, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. The company has a 50-day moving average price of $6.34 and a 200-day moving average price of $5.61. The firm has a market capitalization of $582.64 million, a price-to-earnings ratio of -55.15 and a beta of 1.93.

Valneva (NASDAQ:VALN) last announced its earnings results on Wednesday, March 19th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.32). Valneva had a negative return on equity of 3.93% and a negative net margin of 4.35%. The firm had revenue of $56.48 million for the quarter, compared to the consensus estimate of $55.64 million. As a group, equities research analysts forecast that Valneva SE will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Valneva

An institutional investor recently bought a new position in Valneva stock. ABC Arbitrage SA bought a new position in shares of Valneva SE (NASDAQ:VALN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,244 shares of the company’s stock, valued at approximately $84,000. Institutional investors and hedge funds own 11.39% of the company’s stock.

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.