BioNTech (NASDAQ:BNTX) Stock Gets Price Target Reduction from Canaccord Genuity Group

BioNTech (NASDAQ:BNTX) had its price objective decreased by Canaccord Genuity Group from $136.00 to $132.00 in a research note published on Wednesday morning, Marketbeat Ratings reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other analysts have also commented on BNTX. UBS Group reaffirmed a “buy” rating on shares of BioNTech in a research note on Wednesday, September 16th. Wall Street Zen downgraded shares of BioNTech from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Berenberg Bank set a $140.00 target price on shares of BioNTech in a report on Wednesday, September 16th. Argus assumed coverage on shares of BioNTech in a report on Thursday, October 8th. They issued a “hold” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioNTech in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, BioNTech presently has an average rating of “Moderate Buy” and a consensus price target of $125.44.

BioNTech Trading Down 2.8%

Shares of BioNTech stock opened at $87.71 on Wednesday. BioNTech has a 1 year low of $79.52 and a 1 year high of $124.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.85 and a quick ratio of 7.80. The business has a 50 day moving average price of $98.98 and a 200 day moving average price of $95.27. The company has a market capitalization of $22.18 billion, a P/E ratio of -11.20 and a beta of 1.25.

BioNTech (NASDAQ:BNTX) last announced its earnings results on Tuesday, August 4th. The company reported ($2.53) EPS for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.13). The company had revenue of $122.31 million for the quarter, compared to analyst estimates of $180.18 million. BioNTech had a negative net margin of 63.54% and a negative return on equity of 6.86%. BioNTech’s quarterly revenue was down 59.5% compared to the same quarter last year. During the same quarter last year, the company posted ($1.60) EPS. Sell-side analysts anticipate that BioNTech will post -6.62 EPS for the current fiscal year.

Insider Buying and Selling at BioNTech

In other news, CEO Ugur Sahin sold 72,000 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $97.23, for a total transaction of $7,000,560.00. Following the sale, the chief executive officer owned 108,209 shares in the company, valued at $10,521,161.07. This trade represents a 39.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 807,209 shares of company stock worth $79,246,837. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On BioNTech

Several institutional investors have recently added to or reduced their stakes in the business. TB Alternative Assets Ltd. purchased a new stake in BioNTech in the 3rd quarter valued at about $855,000. Assenagon Asset Management S.A. increased its stake in shares of BioNTech by 79.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 760,675 shares of the company’s stock valued at $74,774,000 after acquiring an additional 337,412 shares during the last quarter. Sivik Global Healthcare LLC purchased a new position in shares of BioNTech during the 3rd quarter worth about $2,163,000. Farther Finance Advisors LLC lifted its holdings in shares of BioNTech by 31.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 493 shares of the company’s stock worth $48,000 after acquiring an additional 118 shares during the period. Finally, Quintet Private Bank Europe S.A. lifted its holdings in shares of BioNTech by 232.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 1,917 shares of the company’s stock worth $188,000 after acquiring an additional 1,341 shares during the period. 15.52% of the stock is currently owned by institutional investors and hedge funds.

BioNTech Company Profile

BioNTech SE is a biotechnology company headquartered in Mainz, Germany, focused on developing therapies and vaccines for cancer and other serious diseases. The company’s research platform includes messenger RNA (mRNA), individualized cancer vaccines, immune-modulating therapies, cell therapies, and protein-based therapeutics.

BioNTech is best known for developing the Comirnaty COVID-19 vaccine in collaboration with Pfizer. Comirnaty uses mRNA technology to help stimulate an immune response against COVID-19 and has been distributed in markets around the world.