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

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. HSBC upped their target price on BioNTech from $97.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Berenberg Bank initiated coverage on BioNTech in a research note on Tuesday, November 19th. They set a “buy” rating and a $130.00 price objective for the company. UBS Group lifted their target price on BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Morgan Stanley raised shares of BioNTech from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $93.00 to $145.00 in a research report on Tuesday, September 24th. Finally, Bank of America lifted their price objective on shares of BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.76.

BioNTech Price Performance

The firm has a market capitalization of $28.77 billion, a PE ratio of -57.13 and a beta of 0.22. The firm’s fifty day moving average price is $113.89 and its 200 day moving average price is $99.89. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01.

BioNTech (NASDAQ:BNTX) last announced its quarterly 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. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. During the same period last year, the business earned $0.73 earnings per share. BioNTech’s quarterly revenue was up 38.9% on a year-over-year basis. As a group, equities analysts forecast that BioNTech SE will post -3.72 earnings per share for the current year.

Institutional Investors Weigh In On BioNTech

A number of institutional investors have recently modified their holdings of the business. Vestcor Inc purchased a new stake in BioNTech during the 3rd quarter worth approximately $784,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of BioNTech during the third quarter worth approximately $718,000. XTX Topco Ltd acquired a new position in BioNTech in the 3rd quarter valued at $459,000. State Street Corp lifted its holdings in BioNTech by 2.0% in the 3rd quarter. State Street Corp now owns 155,867 shares of the company’s stock valued at $18,512,000 after purchasing an additional 3,014 shares in the last quarter. Finally, Redmile Group LLC acquired a new stake in BioNTech during the 3rd quarter worth $18,345,000. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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.