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

Valneva SE Sponsored ADR (NASDAQ:VALN)’s share price gapped down before the market opened on Friday . The stock had previously closed at $11.19, but opened at $10.60. Valneva shares last traded at $10.52, with a volume of 538 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Valneva from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Valneva Trading Up 1.2%

The firm has a market capitalization of $914.49 million, a P/E ratio of -6.72 and a beta of 1.80. The company has a current ratio of 2.38, a quick ratio of 1.36 and a debt-to-equity ratio of 1.52. The business has a 50 day moving average of $10.28 and a 200-day moving average of $9.67.

Institutional Investors Weigh In On Valneva

Institutional investors and hedge funds have recently made changes to their positions in the stock. VSM Wealth Advisory LLC increased its position in Valneva by 125.0% during the third quarter. VSM Wealth Advisory LLC now owns 9,000 shares of the company’s stock worth $110,000 after buying an additional 5,000 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in Valneva in the 4th quarter worth about $44,000. JPMorgan Chase & Co. bought a new stake in Valneva in the 3rd quarter valued at about $124,000. XTX Topco Ltd bought a new stake in Valneva in the 4th quarter valued at about $94,000. Finally, Marex Group plc acquired a new position in shares of Valneva during the 2nd quarter worth 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.