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

Key Points

• Valneva shares jumped 8.4%, opening at $5.74 versus the prior close of $5.30, amid fresh analyst coverage and price-target changes.
• Analyst sentiment remains mixed: TD Cowen initiated a Buy rating with a $12 target, while Goldman Sachs downgraded the stock to Sell with a $4.90 target. The consensus rating is Hold, with an average price target of $11.98.
• Valneva continues to report weak financial performance, including a quarterly loss of $0.42 per share, an 88.87% negative net margin and an expected full-year loss of roughly $1 per share.

Shares of Valneva SE Sponsored ADR (NASDAQ:VALN - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $5.30, but opened at $5.74. Valneva shares last traded at $5.6950, with a volume of 12,095 shares traded.

Analysts Set New Price Targets

Several equities research analysts have commented on VALN shares. Guggenheim set a $11.00 price objective on shares of Valneva in a research note on Thursday, April 16th. Wall Street Zen upgraded Valneva from a "strong sell" rating to a "sell" rating in a research note on Monday, June 1st. The Goldman Sachs Group lowered Valneva from a "neutral" rating to a "sell" rating and set a $4.90 target price for the company. in a report on Wednesday, April 22nd. TD Cowen started coverage on Valneva in a research report on Tuesday. They set a "buy" rating and a $12.00 price target for the company. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Valneva in a report on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $11.98.

Valneva Trading Up 8.4%

The firm has a fifty day simple moving average of $5.21 and a two-hundred day simple moving average of $7.01. The firm has a market capitalization of $545.14 million, a P/E ratio of -3.07 and a beta of 1.77. The company has a debt-to-equity ratio of 2.14, a current ratio of 2.14 and a quick ratio of 1.60.

Valneva (NASDAQ:VALN - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported ($0.42) earnings per share (EPS) for the quarter. Valneva had a negative net margin of 88.87% and a negative return on equity of 107.63%. The firm had revenue of $35.77 million during the quarter. On average, equities research analysts anticipate that Valneva SE Sponsored ADR will post -1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valneva

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new position in shares of Valneva in the fourth quarter worth about $94,000. China Universal Asset Management Co. Ltd. bought a new position in Valneva in the 4th quarter worth approximately $44,000. JPMorgan Chase & Co. bought a new position in Valneva in the 3rd quarter worth approximately $124,000. Finally, Marex Group plc purchased a new position in Valneva in the 2nd quarter valued at approximately $64,000. Institutional investors own 11.39% of the company's stock.

About Valneva

Valneva SE is a specialty vaccine company focused on the development and commercialization of prophylactic vaccines for infectious diseases. Headquartered in Saint-Herblain, France, the company applies inactivated whole-cell and recombinant technology platforms to address public health needs. Valneva's research and development efforts span a range of viral and bacterial pathogens, with an emphasis on travel-related and emerging infectious diseases.

Among its marketed products, Valneva offers IXIARO®/JESPECT® for the prevention of Japanese encephalitis and DUKORAL® for the prevention of cholera and diarrhea caused by enterotoxigenic Escherichia coli.

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