BioNTech (NASDAQ:BNTX) Shares Down 2.3% – Here’s Why

BioNTech SE (NASDAQ:BNTX) shares dropped 2.3% on Monday . The stock traded as low as $116.45 and last traded at $117.63. Approximately 159,342 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 805,760 shares. The stock had previously closed at $120.38.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BNTX. Morgan Stanley upgraded shares of BioNTech from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $93.00 to $145.00 in a research note on Tuesday, September 24th. Wells Fargo & Company started coverage on BioNTech in a research report on Wednesday, December 11th. They set an “overweight” rating and a $170.00 target price on the stock. The Goldman Sachs Group upgraded BioNTech from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $90.00 to $137.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. reduced their target price on BioNTech from $124.00 to $122.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Finally, HSBC upped their target price on shares of BioNTech from $97.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.76.

BioNTech Price Performance

The firm’s 50 day simple moving average is $113.86 and its two-hundred day simple moving average is $100.43. The firm has a market capitalization of $27.15 billion, a P/E ratio of -56.01 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 earnings results on Monday, November 4th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of ($1.26) by $2.07. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. BioNTech’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.73 EPS. As a group, analysts predict that BioNTech SE will post -3.72 earnings per share for the current year.

Institutional Investors Weigh In On BioNTech

A number of large investors have recently added to or reduced their stakes in BNTX. Exome Asset Management LLC purchased a new stake in BioNTech in the third quarter worth $4,104,000. Vestcor Inc bought a new stake in shares of BioNTech during the 3rd quarter valued at about $784,000. Y Intercept Hong Kong Ltd purchased a new position in shares of BioNTech during the third quarter valued at about $718,000. XTX Topco Ltd bought a new position in BioNTech in the third quarter worth about $459,000. Finally, State Street Corp lifted its holdings in BioNTech by 2.0% in the third quarter. State Street Corp now owns 155,867 shares of the company’s stock worth $18,512,000 after buying an additional 3,014 shares during the period. Institutional investors own 15.52% of the company’s stock.

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.