Valneva (NASDAQ:VALN) Trading Up 14.3% After Better-Than-Expected Earnings

Valneva SE Sponsored ADR (NASDAQ:VALN) shares were up 14.3% during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $10.79 and last traded at $10.75. Approximately 50,047 shares changed hands during trading, a decline of 19% from the average daily volume of 61,771 shares. The stock had previously closed at $9.40.

The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.11. The firm had revenue of $54.84 million for the quarter, compared to analyst estimates of $46.28 million. Valneva had a negative return on equity of 34.78% and a negative net margin of 33.87%.

Analyst Upgrades and Downgrades

Separately, Guggenheim decreased their target price on Valneva from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th.

Hedge Funds Weigh In On Valneva

A hedge fund recently raised its stake in Valneva stock. Wells Fargo & Company MN grew its position in Valneva SE Sponsored ADR (NASDAQ:VALN) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 246,766 shares of the company’s stock after purchasing an additional 30,859 shares during the quarter. Wells Fargo & Company MN owned about 0.30% of Valneva worth $1,079,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 11.39% of the company’s stock.

Valneva Stock Down 6.2%

The firm has a 50-day moving average price of $6.75 and a 200 day moving average price of $6.71. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.27 and a quick ratio of 2.12. The company has a market cap of $890.89 million, a price-to-earnings ratio of -10.68 and a beta of 1.77.

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.