BioNTech (NASDAQ:BNTX) Stock Price Up 2.7% – Here’s Why

Shares of BioNTech SE (NASDAQ:BNTX) traded up 2.7% during trading on Wednesday . The company traded as high as $121.88 and last traded at $119.98. 252,556 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 807,887 shares. The stock had previously closed at $116.85.

Analyst Ratings Changes

Several equities research analysts have issued reports on BNTX shares. TD Cowen lowered their price target 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. BMO Capital Markets reiterated an “outperform” rating on shares of BioNTech in a research note on Monday, December 2nd. HSBC raised their target price on shares of BioNTech from $97.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Jefferies Financial Group raised shares of BioNTech from a “hold” rating to a “buy” rating and upped their price target for the stock from $96.00 to $150.00 in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group raised shares of BioNTech from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $137.00 in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, BioNTech currently has a consensus rating of “Moderate Buy” and an average target price of $140.76.

BioNTech Trading Down 0.3 %

The business’s fifty day moving average price is $113.91 and its 200 day moving average price is $100.17. The company has a market cap of $28.62 billion, a price-to-earnings ratio of -56.55 and a beta of 0.22. 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 (NASDAQ:BNTX) last issued its quarterly earnings data 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. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. During the same period last year, the company earned $0.73 earnings per share. The business’s revenue was up 38.9% on a year-over-year basis. Research analysts anticipate that BioNTech SE will post -3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioNTech

A number of hedge funds and other institutional investors have recently bought and sold shares of BNTX. Baillie Gifford & Co. raised its position in shares of BioNTech by 0.4% in the third quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock worth $986,750,000 after buying an additional 31,773 shares in the last quarter. FMR LLC raised its stake in shares of BioNTech by 797.8% during the third quarter. FMR LLC now owns 6,299,929 shares of the company’s stock worth $748,243,000 after acquiring an additional 5,598,190 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its stake in BioNTech by 4.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock worth $47,734,000 after purchasing an additional 24,426 shares during the last quarter. Candriam S.C.A. grew its position in BioNTech by 261.2% during the 2nd quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after acquiring an additional 418,695 shares during the last quarter. Finally, Fred Alger Management LLC bought a new stake in BioNTech during the 3rd quarter valued at $59,485,000. Institutional investors own 15.52% of the company’s stock.

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.