Valneva (NASDAQ:VALN) Sees Strong Trading Volume – Still a Buy?

Valneva SE (NASDAQ:VALN) shares saw unusually-strong trading volume on Wednesday . Approximately 53,386 shares were traded during trading, a decline of 4% from the previous session’s volume of 55,813 shares.The stock last traded at $7.96 and had previously closed at $7.83.

Wall Street Analysts Forecast Growth

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

Valneva Stock Down 6.5 %

The stock has a 50-day simple moving average of $4.87 and a 200 day simple moving average of $5.67. The company has a quick ratio of 2.25, a current ratio of 2.78 and a debt-to-equity ratio of 0.70.

Institutional Trading of Valneva

Several institutional investors have recently made changes to their positions in VALN. AlphaCentric Advisors LLC boosted its position in shares of Valneva by 33.7% during the 3rd quarter. AlphaCentric Advisors LLC now owns 118,000 shares of the company’s stock valued at $717,000 after acquiring an additional 29,748 shares in the last quarter. ABC Arbitrage SA acquired a new stake in shares of Valneva during the 4th quarter valued at about $84,000. Finally, Wells Fargo & Company MN boosted its position in shares of Valneva by 14.3% during the 4th quarter. Wells Fargo & Company MN now owns 246,766 shares of the company’s stock valued at $1,079,000 after acquiring an additional 30,859 shares in the last quarter. 11.39% of the stock is currently owned by institutional investors and hedge funds.

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.