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

Shares of BioNTech SE (NASDAQ:BNTX) saw strong trading volume on Tuesday . 254,365 shares changed hands during mid-day trading, a decline of 46% from the previous session’s volume of 469,307 shares.The stock last traded at $127.06 and had previously closed at $120.21.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BNTX. HSBC upped their target price on shares of BioNTech from $97.00 to $136.00 and gave the company a “buy” rating in a report on Monday, October 7th. Canaccord Genuity Group raised their price objective on BioNTech from $171.00 to $171.44 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Bank of America boosted their target price on BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Berenberg Bank initiated coverage on shares of BioNTech in a research report on Tuesday, November 19th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Jefferies Financial Group raised shares of BioNTech from a “hold” rating to a “buy” rating and increased their price objective for the company from $96.00 to $150.00 in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, BioNTech presently has a consensus rating of “Moderate Buy” and an average price target of $140.76.

BioNTech Price Performance

The stock has a market capitalization of $30.62 billion, a price-to-earnings ratio of -60.82 and a beta of 0.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.21 and a current ratio of 7.33. The company has a fifty day simple moving average of $113.47 and a two-hundred day simple moving average of $102.49.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Planning Capital Management Corp increased its stake in shares of BioNTech by 45,000.0% in the 3rd quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock valued at $54,000 after purchasing an additional 450 shares during the last quarter. Blue Trust Inc. raised its stake in BioNTech by 491.1% during the third quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after acquiring an additional 388 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of BioNTech by 21.7% in the third quarter. GAMMA Investing LLC now owns 623 shares of the company’s stock worth $74,000 after acquiring an additional 111 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in shares of BioNTech in the 3rd quarter valued at approximately $210,000. Finally, Probity Advisors Inc. bought a new stake in shares of BioNTech during the 3rd quarter valued at approximately $216,000. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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.