BioNTech (NASDAQ:BNTX) Stock Gets Price Target Trim from UBS Group

BioNTech (NASDAQ:BNTX) had its price objective trimmed by UBS Group from $135.00 to $125.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioNTech in a research note on Friday, October 2nd. Canaccord Genuity Group lowered their target price on shares of BioNTech from $136.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Argus began coverage on shares of BioNTech in a report on Thursday, October 8th. They set a “hold” rating for the company. BMO Capital Markets cut shares of BioNTech from an “outperform” rating to a “market perform” rating and cut their target price for the company from $128.00 to $105.00 in a research note on Tuesday, September 8th. Finally, Berenberg Bank set a $140.00 target price on BioNTech in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, BioNTech currently has an average rating of “Moderate Buy” and a consensus price target of $123.60.

BioNTech Price Performance

NASDAQ:BNTX traded up $1.65 during mid-day trading on Wednesday, hitting $87.51. The company’s stock had a trading volume of 724,157 shares, compared to its average volume of 1,124,157. The company has a market capitalization of $22.13 billion, a price-to-earnings ratio of -12.78 and a beta of 1.28. The company has a current ratio of 7.85, a quick ratio of 7.80 and a debt-to-equity ratio of 0.01. BioNTech has a fifty-two week low of $79.52 and a fifty-two week high of $124.00. The stock has a fifty day moving average of $94.66 and a 200-day moving average of $96.70.

BioNTech (NASDAQ:BNTX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.13). The company had revenue of $122.31 million during the quarter, compared to the consensus estimate of $180.18 million. BioNTech had a negative net margin of 63.54% and a negative return on equity of 6.86%. The company’s revenue for the quarter was down 59.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.60) earnings per share. As a group, equities analysts forecast that BioNTech will post -6.38 EPS for the current fiscal year.

Insider Activity at BioNTech

In related news, CEO Ugur Sahin sold 36,209 shares of the business’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $95.37, for a total value of $3,453,252.33. Following the completion of the transaction, the chief executive officer owned 36,209 shares in the company, valued at $3,453,252.33. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 807,209 shares of company stock worth $79,246,837 over the last quarter. 19.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Flossbach Von Storch SE bought a new stake in BioNTech during the 2nd quarter worth about $207,142,000. Bank of America Corp DE boosted its stake in BioNTech by 22.6% in the first quarter. Bank of America Corp DE now owns 903,029 shares of the company’s stock valued at $80,261,000 after acquiring an additional 166,432 shares during the last quarter. First Trust Advisors LP grew its holdings in BioNTech by 116.0% during the 1st quarter. First Trust Advisors LP now owns 839,991 shares of the company’s stock worth $74,658,000 after acquiring an additional 451,124 shares during the period. Assenagon Asset Management S.A. grew its holdings in BioNTech by 79.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 760,675 shares of the company’s stock worth $74,774,000 after acquiring an additional 337,412 shares during the period. Finally, Candriam S.C.A. raised its position in shares of BioNTech by 4.7% during the 3rd quarter. Candriam S.C.A. now owns 520,972 shares of the company’s stock valued at $51,399,000 after acquiring an additional 23,442 shares during the last quarter. 15.52% of the stock is currently owned by institutional investors.

About BioNTech

BioNTech SE is a biotechnology company based in Mainz, Germany. Founded in 2008, it develops medicines and vaccines, with a focus on immunotherapies for cancer and infectious diseases.

The company’s research uses technologies including messenger RNA (mRNA), antibodies, and cell-based therapies. Its best-known product is Comirnaty, an mRNA vaccine against COVID-19 developed and commercialized in partnership with Pfizer. BioNTech also has a broad oncology research and development portfolio.

BioNTech works with partners to develop and distribute products internationally.