Zacks Investment Research Upgrades Valneva (NASDAQ:VALN) to “Hold”

Valneva (NASDAQ:VALNGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, reports.

According to Zacks, “Valneva SE is a specialty vaccine company. It is focused on the development and commercialization of prophylactic vaccines for infectious diseases with significant unmet medical need. Valneva SE is based in Saint-Herblain, France. “

NASDAQ VALN traded up $0.35 during trading on Thursday, reaching $23.33. 3,838 shares of the company’s stock were exchanged, compared to its average volume of 38,932. Valneva has a fifty-two week low of $19.45 and a fifty-two week high of $67.84. The company has a current ratio of 1.50, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. The company’s fifty day simple moving average is $30.39 and its 200-day simple moving average is $38.60.

Valneva (NASDAQ:VALNGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.38. The company had revenue of $24.51 million during the quarter, compared to the consensus estimate of $22.51 million. As a group, analysts predict that Valneva will post 0.67 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Morgan Stanley acquired a new stake in Valneva in the 3rd quarter valued at approximately $97,000. Millennium Management LLC acquired a new stake in Valneva in the 2nd quarter valued at approximately $259,000. Jane Street Group LLC grew its holdings in Valneva by 85.9% in the 1st quarter. Jane Street Group LLC now owns 16,584 shares of the company’s stock valued at $569,000 after buying an additional 7,664 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new stake in Valneva in the 4th quarter valued at approximately $3,369,000. 0.21% of the stock is currently owned by institutional investors and hedge funds.

About Valneva (Get Rating)

Valneva SE, a specialty vaccine company, focuses on the development and commercialization of prophylactic vaccines for infectious diseases with unmet needs. Its commercial vaccines for travelers include 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; and VLA2001, a vaccine candidate against SARS-CoV-2.

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