BioNTech (NASDAQ:BNTX) Trading Up 7.4% – Here’s What Happened

BioNTech SE Sponsored ADR (NASDAQ:BNTXGet Free Report) traded up 7.4% during mid-day trading on Friday . The stock traded as high as $120.33 and last traded at $119.05. Approximately 1,254,472 shares were traded during trading, an increase of 16% from the average daily volume of 1,084,099 shares. The stock had previously closed at $110.89.

Key Stories Impacting BioNTech

Here are the key news stories impacting BioNTech this week:

Analysts Set New Price Targets

Several brokerages have commented on BNTX. Weiss Ratings restated a “sell (d-)” rating on shares of BioNTech in a report on Monday, July 6th. Berenberg Bank reduced their target price on BioNTech from $155.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Sanford C. Bernstein reissued a “market perform” rating on shares of BioNTech in a research report on Friday, June 5th. Wells Fargo & Company lowered their target price on BioNTech from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Finally, Wall Street Zen lowered BioNTech from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BioNTech currently has a consensus rating of “Moderate Buy” and an average target price of $127.81.

Get Our Latest Stock Report on BNTX

BioNTech Stock Performance

The company has a market capitalization of $29.48 billion, a P/E ratio of -14.89 and a beta of 1.27. The company’s 50 day moving average is $93.43 and its 200-day moving average is $95.79. 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 (NASDAQ:BNTXGet Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($2.53) EPS for the quarter, missing the consensus estimate of ($2.40) by ($0.13). The business had revenue of $122.31 million for the quarter, compared to the consensus estimate of $180.18 million. BioNTech had a negative return on equity of 6.86% and a negative net margin of 63.54%.The company’s revenue was down 59.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.60) EPS. Equities analysts anticipate that BioNTech SE Sponsored ADR will post -6.33 EPS for the current fiscal year.

BioNTech declared that its board has initiated a stock buyback plan on Thursday, May 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of BioNTech

A number of hedge funds have recently made changes to their positions in BNTX. Larson Financial Group LLC raised its stake in 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 purchased a new stake in shares of BioNTech in the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd increased 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 acquiring an additional 260 shares in the last quarter. Tower Research Capital LLC TRC increased 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 acquiring an additional 305 shares in the last quarter. Finally, Vestcor Inc purchased a new position in shares of BioNTech in the 4th quarter worth about $153,000. 15.52% of the stock is owned by institutional investors.

BioNTech Company Profile

(Get Free Report)

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.

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