BioNTech (NASDAQ:BNTX) Sees Unusually-High Trading Volume on Analyst Upgrade

BioNTech SE (NASDAQ:BNTX) saw strong trading volume on Monday after Bank of America raised their price target on the stock from $125.00 to $150.00. Bank of America currently has a buy rating on the stock. 676,574 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 746,643 shares.The stock last traded at $123.20 and had previously closed at $123.40.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $113.00 price objective on shares of BioNTech in a research note on Monday. TD Cowen cut their price target 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. Jefferies Financial Group lifted their price objective on BioNTech from $90.00 to $96.00 and gave the stock a “hold” rating in a report on Friday. HSBC upgraded BioNTech from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Hsbc Global Res raised BioNTech from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BioNTech presently has a consensus rating of “Moderate Buy” and an average price target of $113.85.

Hedge Funds Weigh In On BioNTech

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA raised its stake in BioNTech by 2.8% in the fourth quarter. Primecap Management Co. CA now owns 4,763,453 shares of the company’s stock worth $502,735,000 after buying an additional 131,490 shares in the last quarter. Harding Loevner LP bought a new position in shares of BioNTech in the 4th quarter worth approximately $410,984,000. Capital World Investors raised its position in shares of BioNTech by 0.5% in the 1st quarter. Capital World Investors now owns 943,116 shares of the company’s stock worth $87,002,000 after acquiring an additional 4,369 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its stake 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 valued at $47,734,000 after purchasing an additional 24,426 shares during the period. Finally, Candriam S.C.A. boosted its position in shares of BioNTech by 261.2% during the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock valued at $46,526,000 after purchasing an additional 418,695 shares in the last quarter. Institutional investors own 15.52% of the company’s stock.

BioNTech Stock Performance

The company has a 50 day moving average of $87.28 and a two-hundred day moving average of $89.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.54 and a quick ratio of 7.40. The company has a market capitalization of $29.79 billion, a PE ratio of 243.38 and a beta of 0.23.

BioNTech (NASDAQ:BNTX) last announced its earnings results on Monday, August 5th. The company reported ($3.36) EPS for the quarter, missing analysts’ consensus estimates of ($2.02) by ($1.34). The business had revenue of $128.70 million for the quarter, compared to the consensus estimate of $134.98 million. BioNTech had a negative net margin of 18.69% and a negative return on equity of 2.54%. The business’s quarterly revenue was down 23.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.86) EPS. As a group, equities research analysts predict that BioNTech SE will post -2.8 earnings per share for the current year.

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.