Valneva (NASDAQ:VALN) Shares Gap Up - Here's What Happened

Key Points

• Valneva shares gapped up prior to trading on Monday, opening at $10.53 from a previous close of $9.71.
• Several research firms have given Valneva a consensus rating of "Buy", with an average price target of $15.00.
• The company's recent earnings report showed a revenue of $54.84 million, beating analysts' expectations of $46.28 million.

Valneva SE Sponsored ADR (NASDAQ:VALN - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $9.71, but opened at $10.53. Valneva shares last traded at $10.51, with a volume of 35,273 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on VALN. Jefferies Financial Group set a $14.00 price objective on Valneva and gave the stock a "buy" rating in a report on Monday, August 25th. Guggenheim lowered their price target on Valneva from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, September 8th. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of Valneva in a research note on Monday, August 25th. Finally, Wall Street Zen upgraded shares of Valneva to a "hold" rating in a research note on Saturday, September 6th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Valneva currently has a consensus rating of "Buy" and an average price target of $15.00.

Valneva Stock Performance

The company has a market capitalization of $928.04 million, a P/E ratio of -11.02 and a beta of 1.78. The stock has a fifty day simple moving average of $9.08 and a 200-day simple moving average of $7.33. The company has a quick ratio of 1.77, a current ratio of 2.27 and a debt-to-equity ratio of 0.66.

Valneva (NASDAQ:VALN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.11. Valneva had a negative return on equity of 34.78% and a negative net margin of 33.87%.The company had revenue of $54.84 million during the quarter, compared to analysts' expectations of $46.28 million. Equities analysts forecast that Valneva SE Sponsored ADR will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Valneva

Institutional investors have recently modified their holdings of the stock. Marex Group plc acquired a new position in Valneva during the 2nd quarter worth approximately $64,000. GAMMA Investing LLC bought a new stake in shares of Valneva during the 1st quarter worth approximately $94,000. Finally, Frazier Life Sciences Management L.P. bought a new stake in shares of Valneva during the 2nd quarter worth approximately $8,240,000. 11.39% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.