Valneva (NASDAQ:VALN) Sees Large Volume Increase – Still a Buy?

Valneva SE (NASDAQ:VALN) shares saw unusually-strong trading volume on Wednesday . Approximately 53,386 shares traded hands during trading, a decline of 4% from the previous session’s volume of 55,813 shares.The stock last traded at $7.96 and had previously closed at $7.83.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Valneva in a research note on Friday, January 31st.

Valneva Trading Up 7.1 %

The firm has a market capitalization of $681.61 million, a price-to-earnings ratio of -64.38 and a beta of 1.98. The business’s 50-day moving average price is $4.71 and its 200 day moving average price is $5.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.78 and a quick ratio of 2.25.

Hedge Funds Weigh In On Valneva

An institutional investor recently raised its position in Valneva stock. AlphaCentric Advisors LLC lifted its holdings in shares of Valneva SE (NASDAQ:VALN) by 33.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 118,000 shares of the company’s stock after acquiring an additional 29,748 shares during the quarter. AlphaCentric Advisors LLC owned 0.15% of Valneva worth $717,000 as of its most recent filing with the SEC. 11.39% of the stock is 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.