Wall Street Zen Upgrades BioNTech (NASDAQ:BNTX) to Hold

BioNTech (NASDAQ:BNTX) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

BNTX has been the topic of a number of other reports. UBS Group reduced their price target on shares of BioNTech from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Berenberg Bank set a $140.00 price objective on shares of BioNTech in a research report on Wednesday, September 16th. Canaccord Genuity Group dropped their price objective on BioNTech from $136.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, October 14th. Argus initiated coverage on BioNTech in a research note on Thursday, October 8th. They set a “hold” rating on the stock. Finally, Morgan Stanley reduced their target price on BioNTech from $114.00 to $106.00 and set an “overweight” rating on the stock in a report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.60.

BioNTech Price Performance

Shares of NASDAQ:BNTX opened at $87.51 on Friday. BioNTech has a 52 week low of $79.52 and a 52 week high of $124.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.52 and a current ratio of 8.55. The company has a market capitalization of $22.13 billion, a PE ratio of -12.78 and a beta of 1.28. The company has a 50 day moving average price of $94.66 and a two-hundred day moving average price of $96.70.

Insider Buying and Selling at BioNTech

In other news, CEO Ugur Sahin sold 72,000 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $97.23, for a total transaction of $7,000,560.00. Following the completion of the transaction, the chief executive officer directly owned 108,209 shares of the company’s stock, valued at $10,521,161.07. This trade represents a 39.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 807,209 shares of company stock worth $79,246,837. 19.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC acquired a new position in BioNTech during the second quarter valued at approximately $39,000. Farther Finance Advisors LLC grew its stake in BioNTech by 31.5% in the third quarter. Farther Finance Advisors LLC now owns 493 shares of the company’s stock valued at $48,000 after purchasing an additional 118 shares in the last quarter. Parallel Advisors LLC grew its stake in BioNTech by 50.3% in the third quarter. Parallel Advisors LLC now owns 843 shares of the company’s stock valued at $83,000 after purchasing an additional 282 shares in the last quarter. Quintet Private Bank Europe S.A. increased its position in shares of BioNTech by 232.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 1,917 shares of the company’s stock worth $188,000 after purchasing an additional 1,341 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new position in shares of BioNTech during the 3rd quarter worth approximately $228,000. Institutional investors and hedge funds own 15.52% of the company’s stock.

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.