BioNTech (NASDAQ:BNTX) Trading Up 3.9% – Here’s Why

BioNTech SE (NASDAQ:BNTX) shot up 3.9% during trading on Monday . The stock traded as high as $99.18 and last traded at $96.43. 221,226 shares were traded during trading, a decline of 76% from the average session volume of 929,876 shares. The stock had previously closed at $92.77.

Analyst Upgrades and Downgrades

BNTX has been the subject of a number of research reports. BMO Capital Markets increased their target price on shares of BioNTech from $130.00 to $143.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Canaccord Genuity Group restated a “buy” rating and issued a $171.44 target price on shares of BioNTech in a research report on Tuesday, March 11th. Citigroup reaffirmed a “buy” rating and set a $140.00 target price (down previously from $145.00) on shares of BioNTech in a research note on Tuesday, May 6th. HC Wainwright reiterated a “buy” rating and issued a $134.00 price target (down from $145.00) on shares of BioNTech in a research note on Wednesday, May 14th. Finally, Morgan Stanley cut their price objective on BioNTech from $140.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.08.

BioNTech Stock Up 4.0%

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 company has a market capitalization of $24.45 billion, a P/E ratio of -48.44 and a beta of 1.35. The stock has a 50-day moving average price of $97.45 and a 200-day moving average price of $108.67.

BioNTech (NASDAQ:BNTX) last released its earnings results on Monday, March 10th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.70. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm posted $1.90 EPS. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year. On average, research analysts predict that BioNTech SE will post -3.88 EPS for the current fiscal year.

Institutional Investors Weigh In On BioNTech

Several large investors have recently modified their holdings of BNTX. SG Americas Securities LLC boosted its position in BioNTech by 412.3% during the fourth quarter. SG Americas Securities LLC now owns 41,470 shares of the company’s stock valued at $4,726,000 after acquiring an additional 33,375 shares during the last quarter. Mirabaud & Cie SA acquired a new position in shares of BioNTech in the 4th quarter valued at about $684,000. Bank of New York Mellon Corp boosted its position in shares of BioNTech by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,677 shares of the company’s stock valued at $419,000 after purchasing an additional 150 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in BioNTech during the fourth quarter worth approximately $1,118,000. Finally, Van ECK Associates Corp increased its holdings in BioNTech by 25.1% in the fourth quarter. Van ECK Associates Corp now owns 118,418 shares of the company’s stock worth $13,493,000 after purchasing an additional 23,733 shares in the last quarter. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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.