BioNTech (NASDAQ:BNTX) Stock Price Down 1.6% – Here’s Why

Shares of BioNTech SE (NASDAQ:BNTX) were down 1.6% during mid-day trading on Friday . The company traded as low as $117.76 and last traded at $118.75. 98,963 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 806,475 shares. The stock had previously closed at $120.69.

Wall Street Analyst Weigh In

BNTX has been the topic of several recent analyst reports. HSBC lifted their target price on shares of BioNTech from $97.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Jefferies Financial Group raised BioNTech from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $96.00 to $150.00 in a research report on Tuesday, September 17th. The Goldman Sachs Group upgraded BioNTech from a “neutral” rating to a “buy” rating and upped their price objective for the company from $90.00 to $137.00 in a research note on Friday, November 8th. Morgan Stanley upgraded BioNTech from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $93.00 to $145.00 in a research note on Tuesday, September 24th. Finally, Bank of America increased their price target on shares of BioNTech from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, BioNTech currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.76.

BioNTech Stock Performance

The company’s fifty day moving average is $113.86 and its 200 day moving average is $100.38. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $28.62 billion, a P/E ratio of -57.32 and a beta of 0.22.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of ($1.26) by $2.07. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $514.08 million. During the same period last year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, equities analysts anticipate that BioNTech SE will post -3.72 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Slow Capital Inc. boosted its position in shares of BioNTech by 12.0% in the second quarter. Slow Capital Inc. now owns 51,080 shares of the company’s stock valued at $4,105,000 after acquiring an additional 5,467 shares during the period. Van ECK Associates Corp grew its position in shares of BioNTech by 1.9% during the 2nd quarter. Van ECK Associates Corp now owns 119,901 shares of the company’s stock valued at $9,635,000 after purchasing an additional 2,192 shares in the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV increased its holdings in shares of BioNTech by 41.4% in the second quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 20,500 shares of the company’s stock worth $1,647,000 after purchasing an additional 6,000 shares during the period. TD Asset Management Inc raised its position in shares of BioNTech by 6.1% in the second quarter. TD Asset Management Inc now owns 7,590 shares of the company’s stock worth $612,000 after buying an additional 435 shares in the last quarter. Finally, Candriam S.C.A. raised its position in shares of BioNTech by 261.2% in the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after buying an additional 418,695 shares in the last quarter. Hedge funds and other institutional investors own 15.52% of the company’s stock.

About BioNTech

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.