BioNTech (NASDAQ:BNTX) Stock Price Down 0.7% – Here’s What Happened

BioNTech SE (NASDAQ:BNTX)’s share price dropped 0.7% on Tuesday . The stock traded as low as $119.20 and last traded at $120.82. Approximately 538,537 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 811,532 shares. The stock had previously closed at $121.72.

Analyst Upgrades and Downgrades

BNTX has been the topic of a number of research reports. Berenberg Bank initiated coverage on BioNTech in a research note on Tuesday, November 19th. They set a “buy” rating and a $130.00 price target on the stock. Morgan Stanley raised BioNTech from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $93.00 to $145.00 in a research report on Tuesday, September 24th. The Goldman Sachs Group raised shares of BioNTech from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $137.00 in a research report on Friday, November 8th. TD Cowen dropped their price objective on shares of BioNTech from $132.00 to $122.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Finally, Jefferies Financial Group upgraded shares of BioNTech from a “hold” rating to a “buy” rating and increased their target price for the stock from $96.00 to $150.00 in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.67.

BioNTech Stock Performance

The company has a market capitalization of $28.97 billion, a price-to-earnings ratio of -57.53 and a beta of 0.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21. The stock has a 50 day simple moving average of $113.95 and a two-hundred day simple moving average of $99.75.

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

Institutional Investors Weigh In On BioNTech

Institutional investors and hedge funds have recently bought and sold shares of the stock. Planning Capital Management Corp grew its holdings in shares of BioNTech by 45,000.0% during the third quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock worth $54,000 after purchasing an additional 450 shares during the last quarter. Blue Trust Inc. boosted its position in shares of BioNTech by 491.1% in the 3rd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $55,000 after purchasing an additional 388 shares during the period. GAMMA Investing LLC grew its stake in BioNTech by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 623 shares of the company’s stock worth $74,000 after buying an additional 111 shares during the last quarter. Daiwa Securities Group Inc. increased its position in BioNTech by 430.3% during the second quarter. Daiwa Securities Group Inc. now owns 1,925 shares of the company’s stock worth $155,000 after buying an additional 1,562 shares during the period. Finally, Caprock Group LLC purchased a new stake in BioNTech in the second quarter valued at approximately $206,000. 15.52% of the stock is owned by hedge funds and other institutional investors.

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.