BioNTech (NASDAQ:BNTX) Sees Strong Trading Volume – Here’s Why

BioNTech SE Sponsored ADR (NASDAQ:BNTX) shares saw an uptick in trading volume on Thursday . 1,344,176 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 1,058,182 shares.The stock last traded at $88.79 and had previously closed at $86.15.

Analyst Ratings Changes

A number of research firms recently commented on BNTX. Berenberg Bank decreased their price target on BioNTech from $155.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Sanford C. Bernstein reiterated a “market perform” rating on shares of BioNTech in a research note on Friday, June 5th. Wall Street Zen downgraded BioNTech from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Raymond James Financial reiterated an “outperform” rating on shares of BioNTech in a research note on Tuesday, March 10th. Finally, BMO Capital Markets decreased their price target on BioNTech from $143.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $129.56.

BioNTech Stock Up 1.1%

The company has a debt-to-equity ratio of 0.01, a current ratio of 8.80 and a quick ratio of 8.74. The stock’s fifty day simple moving average is $94.57 and its 200-day simple moving average is $98.47. The stock has a market cap of $22.90 billion, a P/E ratio of -15.40 and a beta of 1.32.

BioNTech (NASDAQ:BNTX) last issued its earnings results on Saturday, February 14th. The company reported ($0.39) earnings per share (EPS) for the quarter. BioNTech had a negative return on equity of 5.30% and a negative net margin of 44.39%.The business had revenue of $1.06 billion during the quarter. On average, research analysts anticipate that BioNTech SE Sponsored ADR will post -4.66 earnings per share for the current year.

BioNTech declared that its Board of Directors has initiated a share buyback program on Thursday, May 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at BioNTech

In other BioNTech news, COO Sierk Poetting sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $110.56, for a total value of $5,528,000.00. Following the transaction, the chief operating officer owned 399,387 shares of the company’s stock, valued at $44,156,226.72. This trade represents a 11.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioNTech

A number of hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC raised its holdings in shares of BioNTech by 86.4% during the fourth quarter. Larson Financial Group LLC now owns 274 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. EFG International AG bought a new stake in shares of BioNTech during the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of BioNTech by 520.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company’s stock valued at $30,000 after buying an additional 260 shares during the last quarter. Huntington National Bank raised its holdings in shares of BioNTech by 1,266.7% during the third quarter. Huntington National Bank now owns 410 shares of the company’s stock valued at $40,000 after buying an additional 380 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of BioNTech by 118.2% during the second quarter. Tower Research Capital LLC TRC now owns 563 shares of the company’s stock valued at $60,000 after buying an additional 305 shares during the last quarter. Institutional investors own 15.52% of the company’s stock.

BioNTech Company Profile

BioNTech SE (NASDAQ: BNTX) is a Germany-based biotechnology company that develops next-generation immunotherapies and vaccines, with a primary focus on messenger RNA (mRNA) technology. Founded in 2008 and headquartered in Mainz, BioNTech advances a platform approach to design and manufacture therapeutics across oncology, infectious diseases and other high unmet-need areas. The company is publicly traded on the NASDAQ exchange and became widely known for its rapid development and global deployment of an mRNA-based COVID-19 vaccine in collaboration with Pfizer.

BioNTech’s core activities include discovery research, clinical development and manufacturing of mRNA-based medicines, personalized cancer immunotherapies, engineered cell therapies, and antibody- and protein-based therapeutics.