BioNTech (NASDAQ:BNTX) Trading Down 2.2% – Here’s What Happened

BioNTech SE (NASDAQ:BNTX)’s share price was down 2.2% during trading on Wednesday . The stock traded as low as $102.79 and last traded at $104.03. Approximately 215,127 shares changed hands during trading, a decline of 73% from the average daily volume of 806,520 shares. The stock had previously closed at $106.40.

Analysts Set New Price Targets

Several brokerages have issued reports on BNTX. The Goldman Sachs Group raised shares of BioNTech from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $137.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their price target on shares of BioNTech from $125.00 to $124.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. UBS Group raised their price objective on shares of BioNTech from $97.00 to $131.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. HSBC increased their target price on BioNTech from $97.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Evercore ISI raised shares of BioNTech from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $125.00 in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $138.79.

BioNTech Stock Performance

The company has a market cap of $24.23 billion, a price-to-earnings ratio of -49.54 and a beta of 0.26. 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 firm’s 50-day moving average price is $113.68 and its 200 day moving average price is $97.45.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $514.08 million. During the same period last year, the company earned $0.73 EPS. The firm’s revenue was up 38.9% on a year-over-year basis. On average, sell-side analysts anticipate that BioNTech SE will post -3.68 EPS for the current year.

Institutional Investors Weigh In On BioNTech

Large investors have recently modified their holdings of the business. Vestcor Inc bought a new position in shares of BioNTech during the third quarter worth about $784,000. Y Intercept Hong Kong Ltd bought a new position in shares of BioNTech during the 3rd quarter worth approximately $718,000. XTX Topco Ltd bought a new stake in shares of BioNTech in the third quarter worth $459,000. State Street Corp boosted its holdings in BioNTech by 2.0% during the third quarter. State Street Corp now owns 155,867 shares of the company’s stock worth $18,512,000 after purchasing an additional 3,014 shares during the last quarter. Finally, Redmile Group LLC bought a new position in BioNTech in the third quarter valued at $18,345,000. 15.52% of the stock is currently owned by 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.