BioNTech (NASDAQ:BNTX) Stock Gets Price Target Trim from Wells Fargo & Company

BioNTech (NASDAQ:BNTX) had its target price cut by Wells Fargo & Company from $140.00 to $125.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Morgan Stanley reduced their price target on BioNTech from $115.00 to $114.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 7th. Canaccord Genuity Group dropped their price target on shares of BioNTech from $136.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, October 14th. UBS Group reissued a “buy” rating on shares of BioNTech in a report on Wednesday, September 16th. Citigroup decreased their price objective on shares of BioNTech from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, Argus began coverage on shares of BioNTech in a report on Thursday, October 8th. They set a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BioNTech currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.60.

BioNTech Trading Up 1.9%

Shares of BioNTech stock traded up $1.65 during trading on Wednesday, reaching $87.51. The company’s stock had a trading volume of 724,157 shares, compared to its average volume of 1,124,157. The company has a quick ratio of 7.80, a current ratio of 7.85 and a debt-to-equity ratio of 0.01. BioNTech has a 52-week low of $79.52 and a 52-week high of $124.00. The firm’s 50-day moving average is $94.66 and its two-hundred day moving average is $96.70. The company has a market cap of $22.13 billion, a price-to-earnings ratio of -12.78 and a beta of 1.28.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.13). BioNTech had a negative net margin of 63.54% and a negative return on equity of 6.86%. The business had revenue of $122.31 million for the quarter, compared to analysts’ expectations of $180.18 million. During the same quarter in the previous year, the company earned ($1.60) earnings per share. The business’s quarterly revenue was down 59.5% on a year-over-year basis. On average, sell-side analysts anticipate that BioNTech will post -6.38 earnings per share for the current year.

Insider Buying and Selling

In other BioNTech news, CEO Ugur Sahin sold 36,209 shares of BioNTech stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $95.37, for a total transaction of $3,453,252.33. Following the sale, the chief executive officer directly owned 36,209 shares of the company’s stock, valued at approximately $3,453,252.33. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 807,209 shares of company stock valued at $79,246,837 in the last ninety days. Company insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Flossbach Von Storch SE purchased a new position in shares of BioNTech in the 2nd quarter valued at approximately $207,142,000. Bank of America Corp DE raised its holdings in BioNTech by 22.6% in the first quarter. Bank of America Corp DE now owns 903,029 shares of the company’s stock worth $80,261,000 after purchasing an additional 166,432 shares in the last quarter. First Trust Advisors LP lifted its position in BioNTech by 116.0% during the first quarter. First Trust Advisors LP now owns 839,991 shares of the company’s stock valued at $74,658,000 after buying an additional 451,124 shares during the period. Assenagon Asset Management S.A. lifted its position in BioNTech by 79.7% during the third quarter. Assenagon Asset Management S.A. now owns 760,675 shares of the company’s stock valued at $74,774,000 after buying an additional 337,412 shares during the period. Finally, Candriam S.C.A. boosted its holdings in shares of BioNTech by 4.7% during the 3rd quarter. Candriam S.C.A. now owns 520,972 shares of the company’s stock valued at $51,399,000 after buying an additional 23,442 shares in the last quarter. Institutional investors own 15.52% of the company’s stock.

BioNTech Company Profile

BioNTech SE is a biotechnology company based in Mainz, Germany. Founded in 2008, it develops medicines and vaccines, with a focus on immunotherapies for cancer and infectious diseases.

The company’s research uses technologies including messenger RNA (mRNA), antibodies, and cell-based therapies. Its best-known product is Comirnaty, an mRNA vaccine against COVID-19 developed and commercialized in partnership with Pfizer. BioNTech also has a broad oncology research and development portfolio.

BioNTech works with partners to develop and distribute products internationally.