Vestcor Inc Takes Position in BioNTech SE (NASDAQ:BNTX)

Vestcor Inc bought a new stake in shares of BioNTech SE (NASDAQ:BNTX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,600 shares of the company’s stock, valued at approximately $784,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BNTX. Candriam S.C.A. lifted its position in shares of BioNTech by 261.2% in the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after buying an additional 418,695 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of BioNTech in the third quarter valued at approximately $59,485,000. Baillie Gifford & Co. grew its holdings in BioNTech by 0.4% during the 3rd quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock worth $986,750,000 after acquiring an additional 31,773 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of BioNTech by 63.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 18,939 shares of the company’s stock valued at $2,249,000 after purchasing an additional 7,340 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of BioNTech by 123.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 134,036 shares of the company’s stock valued at $15,919,000 after acquiring an additional 74,119 shares during the period. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

BioNTech Stock Performance

NASDAQ BNTX opened at $120.69 on Friday. The stock has a 50-day moving average of $113.91 and a two-hundred day moving average of $100.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21. BioNTech SE has a 1-year low of $76.53 and a 1-year high of $131.49. The company has a market cap of $28.93 billion, a P/E ratio of -57.47 and a beta of 0.22.

BioNTech (NASDAQ:BNTX) last released its earnings results on Monday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.26) by $2.07. The firm had revenue of $1.24 billion during 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%. BioNTech’s revenue was up 38.9% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. As a group, analysts anticipate that BioNTech SE will post -3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BNTX. Morgan Stanley upgraded BioNTech from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $93.00 to $145.00 in a research note on Tuesday, September 24th. Jefferies Financial Group raised shares of BioNTech from a “hold” rating to a “buy” rating and raised their target price for the stock from $96.00 to $150.00 in a report on Tuesday, September 17th. BMO Capital Markets restated an “outperform” rating on shares of BioNTech in a research report on Monday, December 2nd. TD Cowen lowered their target price on shares of BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group lifted their price target on shares of BioNTech from $171.00 to $171.44 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.76.

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.