BioNTech (NASDAQ:BNTX) Rating Increased to Strong-Buy at Truist Financial

Truist Financial upgraded shares of BioNTech (NASDAQ:BNTX) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

A number of other research analysts have also recently weighed in on BNTX. Citigroup dropped their price target on BioNTech from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Wall Street Zen downgraded BioNTech from a “hold” rating to a “sell” rating in a research note on Saturday, March 14th. Bank of America reiterated a “buy” rating and issued a $128.00 price objective on shares of BioNTech in a research report on Tuesday, March 10th. Raymond James Financial reissued an “outperform” rating on shares of BioNTech in a research note on Tuesday, March 10th. Finally, Leerink Partners downgraded shares of BioNTech from an “outperform” rating to a “market perform” rating and set a $113.00 target price for the company. in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $133.73.

BioNTech Stock Performance

Shares of BNTX stock opened at $88.77 on Wednesday. The stock has a fifty day moving average price of $104.54 and a 200 day moving average price of $101.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.49 and a current ratio of 7.54. The stock has a market cap of $21.30 billion, a PE ratio of -16.94 and a beta of 1.51. BioNTech has a 1 year low of $79.52 and a 1 year high of $124.00.

Hedge Funds Weigh In On BioNTech

Institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC purchased a new stake in shares of BioNTech in the fourth quarter valued at $4,969,000. Rockefeller Capital Management L.P. increased its position in BioNTech by 328.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,856 shares of the company’s stock worth $177,000 after purchasing an additional 1,423 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in BioNTech by 1,012.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 556 shares of the company’s stock worth $53,000 after purchasing an additional 506 shares in the last quarter. Sankala Group LLC acquired a new position in BioNTech in the 4th quarter valued at about $248,000. Finally, Virtu Financial LLC raised its stake in BioNTech by 163.9% in the 4th quarter. Virtu Financial LLC now owns 11,244 shares of the company’s stock valued at $1,070,000 after purchasing an additional 6,984 shares during the last quarter. 15.52% of the stock is owned by institutional investors and hedge funds.

About BioNTech

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.