Valneva (NASDAQ:VALN) Shares Gap Down on Disappointing Earnings

Valneva SE (NASDAQ:VALN - Get Free Report)'s stock price gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $6.98, but opened at $6.81. Valneva shares last traded at $6.95, with a volume of 12,500 shares.

The company reported ($0.54) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.32). Valneva had a negative net margin of 4.35% and a negative return on equity of 3.93%. The firm had revenue of $56.48 million during the quarter, compared to the consensus estimate of $55.64 million.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "buy" rating and issued a $17.00 price target on shares of Valneva in a research report on Friday.

Hedge Funds Weigh In On Valneva

A hedge fund recently raised its stake in Valneva stock. Wells Fargo & Company MN increased its stake in Valneva SE (NASDAQ:VALN - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent 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 period. Wells Fargo & Company MN owned 0.30% of Valneva worth $1,079,000 at the end of the most recent reporting period. 11.39% of the stock is owned by institutional investors.

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Valneva Stock Down 1.1 %

The firm has a market cap of $582.64 million, a price-to-earnings ratio of -55.15 and a beta of 1.93. The stock has a 50-day moving average of $6.34 and a 200-day moving average of $5.58. The company has a current ratio of 2.78, a quick ratio of 2.25 and a debt-to-equity ratio of 0.70.

Valneva Company Profile

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.