BioNTech (NASDAQ:BNTX) Trading Down 3.3% – Here’s Why

BioNTech SE (NASDAQ:BNTX)’s share price traded down 3.3% on Friday . The company traded as low as $108.75 and last traded at $110.66. 741,146 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 786,373 shares. The stock had previously closed at $114.47.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen decreased their price objective on shares of BioNTech from $98.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Morgan Stanley raised shares of BioNTech from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $93.00 to $145.00 in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BioNTech from $95.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Jefferies Financial Group raised shares of BioNTech from a “hold” rating to a “buy” rating and boosted their target price for the stock from $96.00 to $150.00 in a research note on Tuesday, September 17th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.92.

BioNTech Stock Performance

The company has a market cap of $26.57 billion, a PE ratio of 223.54 and a beta of 0.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.40 and a current ratio of 7.54. The firm’s 50 day moving average is $104.56 and its 200-day moving average is $94.20.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings results on Monday, August 5th. The company reported ($3.36) earnings per share for the quarter, missing the consensus estimate of ($2.02) by ($1.34). BioNTech had a negative net margin of 18.69% and a negative return on equity of 2.54%. The firm had revenue of $128.70 million during the quarter, compared to analysts’ expectations of $134.98 million. During the same period last year, the company earned ($0.86) EPS. The business’s quarterly revenue was down 23.3% on a year-over-year basis. On average, research analysts anticipate that BioNTech SE will post -3.04 earnings per share for the current fiscal year.

Institutional Trading of BioNTech

Several hedge funds have recently made changes to their positions in the company. Capital World Investors grew its stake in shares of BioNTech by 0.5% in the 1st quarter. Capital World Investors now owns 943,116 shares of the company’s stock valued at $87,002,000 after buying an additional 4,369 shares during the period. Deerfield Management Company L.P. Series C lifted its holdings in shares of BioNTech by 4.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock worth $47,734,000 after acquiring an additional 24,426 shares during the last quarter. Candriam S.C.A. lifted its holdings in shares of BioNTech by 261.2% in the 2nd quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after acquiring an additional 418,695 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of BioNTech by 283.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 461,711 shares of the company’s stock worth $37,103,000 after acquiring an additional 341,311 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of BioNTech by 3.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 427,597 shares of the company’s stock worth $34,533,000 after acquiring an additional 15,700 shares during the last quarter. Hedge funds and other institutional investors own 15.52% of the company’s stock.

BioNTech Company Profile

BioNTech SE, a biotechnology company, develops and commercializes immunotherapies for cancer and other infectious diseases. The company is developing FixVac product candidates, including BNT111, which is in Phase II clinical trial for advance melanoma; BNT112 that is in Phase I/IIa clinical trial for prostate cancer; BNT113, which is in Phase II clinical trial to treat HPV 16+ head and neck cancers; BNT114 to treat triple negative breast cancer; BNT115, which is in Phase I clinical trial in ovarian cancer; and BNT116, which is in Phase I clinical trial for non-small cell lung cancer.