BioNTech (NASDAQ:BNTX) Trading Down 2.8% After Analyst Downgrade

Shares of BioNTech SE (NASDAQ:BNTX) traded down 2.8% on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $124.00 to $122.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. BioNTech traded as low as $117.00 and last traded at $117.40. 308,482 shares changed hands during trading, a decline of 62% from the average session volume of 815,980 shares. The stock had previously closed at $120.76.

Several other brokerages have also issued reports on BNTX. TD Cowen decreased their price target on shares of BioNTech from $132.00 to $122.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. UBS Group raised their target price on shares of BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Bank of America lifted their target price on shares of BioNTech from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, September 16th. The Goldman Sachs Group upgraded BioNTech from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $137.00 in a research note on Friday, November 8th. Finally, Jefferies Financial Group upgraded BioNTech from a “hold” rating to a “buy” rating and lifted their price objective for the company from $96.00 to $150.00 in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.64.

Institutional Trading of BioNTech

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in BioNTech by 21.7% in the third quarter. GAMMA Investing LLC now owns 623 shares of the company’s stock worth $74,000 after purchasing an additional 111 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of BioNTech by 106.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after buying an additional 252 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of BioNTech by 491.1% in the third quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after acquiring an additional 388 shares during the period. Gallacher Capital Management LLC increased its position in BioNTech by 12.1% during the second quarter. Gallacher Capital Management LLC now owns 3,657 shares of the company’s stock valued at $294,000 after acquiring an additional 395 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in BioNTech by 6.1% in the second quarter. TD Asset Management Inc now owns 7,590 shares of the company’s stock valued at $612,000 after acquiring an additional 435 shares during the period. 15.52% of the stock is currently owned by institutional investors.

BioNTech Price Performance

The firm has a 50-day simple moving average of $113.54 and a 200-day simple moving average of $98.00. The firm has a market capitalization of $28.15 billion, a PE ratio of -55.90 and a beta of 0.26. 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 posted its quarterly earnings data on Monday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $514.08 million. During the same quarter last year, the firm posted $0.73 earnings per share. The firm’s revenue was up 38.9% compared to the same quarter last year. As a group, equities analysts forecast that BioNTech SE will post -3.68 earnings per share for the current year.

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.