Valneva (NASDAQ:VALN) Shares Gap Down – Time to Sell?

Shares of Valneva SE (NASDAQ:VALN) gapped down before the market opened on Wednesday . The stock had previously closed at $6.98, but opened at $6.81. Valneva shares last traded at $6.95, with a volume of 12,500 shares trading hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $17.00 target price on shares of Valneva in a research note on Friday, February 28th.

Valneva Trading Up 2.4 %

The firm’s 50 day moving average price is $6.19 and its 200-day moving average price is $5.59. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.25. The stock has a market cap of $563.95 million, a P/E ratio of -53.38 and a beta of 1.93.

Hedge Funds Weigh In On Valneva

A hedge fund recently bought a new stake in Valneva stock. ABC Arbitrage SA purchased a new stake in shares of Valneva SE (NASDAQ:VALN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,244 shares of the company’s stock, valued at approximately $84,000. Hedge funds and other institutional investors 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.