Fred Alger Management LLC Invests $59.49 Million in BioNTech SE (NASDAQ:BNTX)

Fred Alger Management LLC bought a new position in BioNTech SE (NASDAQ:BNTX) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 500,844 shares of the company’s stock, valued at approximately $59,485,000.

Several other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in BioNTech by 21.7% in the third quarter. GAMMA Investing LLC now owns 623 shares of the company’s stock valued at $74,000 after purchasing an additional 111 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in BioNTech by 106.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock valued at $43,000 after acquiring an additional 252 shares during the period. Blue Trust Inc. raised its holdings in BioNTech by 491.1% during the 3rd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $55,000 after acquiring an additional 388 shares during the period. Gallacher Capital Management LLC increased its holdings in shares of BioNTech by 12.1% in the second quarter. Gallacher Capital Management LLC now owns 3,657 shares of the company’s stock worth $294,000 after purchasing an additional 395 shares during the period. Finally, TD Asset Management Inc increased its holdings 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 purchasing an additional 435 shares during the period. Hedge funds and other institutional investors own 15.52% of the company’s stock.

BioNTech Price Performance

NASDAQ BNTX opened at $120.72 on Friday. The company has a 50-day simple moving average of $113.52 and a two-hundred day simple moving average of $98.35. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.21 and a current ratio of 7.33. BioNTech SE has a 12-month low of $76.53 and a 12-month high of $131.49.

BioNTech (NASDAQ:BNTX) last posted its earnings results on Monday, November 4th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $2.07. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $514.08 million. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. BioNTech’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 earnings per share. As a group, equities analysts predict that BioNTech SE will post -3.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of BioNTech from $171.00 to $171.44 and gave the stock a “buy” rating in a report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $150.00 target price on shares of BioNTech in a research note on Monday, November 18th. Hsbc Global Res raised BioNTech from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Bank of America increased their target price on BioNTech from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group raised BioNTech from a “hold” rating to a “buy” rating and increased their target price for the company from $96.00 to $150.00 in a research note 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 company. According to data from MarketBeat.com, BioNTech currently has an average rating of “Moderate Buy” and a consensus price target of $138.67.

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.