Cresset Asset Management LLC Decreases Stock Holdings in BioNTech SE (NASDAQ:BNTX)

Cresset Asset Management LLC trimmed its holdings in shares of BioNTech SE (NASDAQ:BNTX) by 8.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,799 shares of the company’s stock after selling 532 shares during the quarter. Cresset Asset Management LLC’s holdings in BioNTech were worth $661,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC increased its position in shares of BioNTech by 412.3% during the fourth quarter. SG Americas Securities LLC now owns 41,470 shares of the company’s stock valued at $4,726,000 after acquiring an additional 33,375 shares during the last quarter. Mirabaud & Cie SA bought a new position in BioNTech during the fourth quarter valued at $684,000. Bank of New York Mellon Corp grew its holdings in BioNTech by 4.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,677 shares of the company’s stock valued at $419,000 after purchasing an additional 150 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in BioNTech during the fourth quarter valued at $1,118,000. Finally, Van ECK Associates Corp grew its holdings in BioNTech by 25.1% during the fourth quarter. Van ECK Associates Corp now owns 118,418 shares of the company’s stock valued at $13,493,000 after purchasing an additional 23,733 shares during the period. 15.52% of the stock is owned by hedge funds and other institutional investors.

BioNTech Price Performance

NASDAQ:BNTX opened at $94.50 on Wednesday. The firm has a market capitalization of $22.68 billion, a price-to-earnings ratio of -45.00 and a beta of 1.35. BioNTech SE has a 52-week low of $76.53 and a 52-week high of $131.49. The stock has a fifty day moving average of $98.12 and a 200 day moving average of $109.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.21 and a current ratio of 7.33.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings data on Monday, March 10th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.70. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.24 billion. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the company earned $1.90 earnings per share. On average, research analysts expect that BioNTech SE will post -3.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on BNTX. BMO Capital Markets increased their price objective on BioNTech from $130.00 to $143.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Morgan Stanley reduced their price objective on BioNTech from $140.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Citigroup reissued a “buy” rating and set a $140.00 price objective (down from $145.00) on shares of BioNTech in a report on Tuesday, May 6th. Canaccord Genuity Group reissued a “buy” rating and set a $171.44 price objective on shares of BioNTech in a report on Tuesday, March 11th. Finally, HC Wainwright cut their price target on BioNTech from $150.00 to $145.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BioNTech currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.73.

About BioNTech

BioNTech SE, a biotechnology company, develops and commercializes immunotherapies for cancer and other infectious diseases. The company is developing FixVac product candidates, including BNT111, which is in Phase II clinical trial for advance melanoma; BNT112 that is in Phase I/IIa clinical trial for prostate cancer; BNT113, which is in Phase II clinical trial to treat HPV 16+ head and neck cancers; BNT114 to treat triple negative breast cancer; BNT115, which is in Phase I clinical trial in ovarian cancer; and BNT116, which is in Phase I clinical trial for non-small cell lung cancer.