BioNTech SE (NASDAQ:BNTX) Short Interest Down 16.5% in August

BioNTech SE (NASDAQ:BNTX) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,580,000 shares, a drop of 16.5% from the August 15th total of 3,090,000 shares. Approximately 1.1% of the shares of the company are short sold. Based on an average daily trading volume, of 704,700 shares, the short-interest ratio is currently 3.7 days.

BioNTech Price Performance

BNTX stock traded up $1.09 during midday trading on Tuesday, reaching $124.56. 1,198,100 shares of the company’s stock traded hands, compared to its average volume of 766,385. The company has a 50-day simple moving average of $88.13 and a two-hundred day simple moving average of $89.90. The company has a quick ratio of 7.40, a current ratio of 7.54 and a debt-to-equity ratio of 0.01. BioNTech has a 1-year low of $76.53 and a 1-year high of $131.49. The company has a market cap of $29.61 billion, a price-to-earnings ratio of 260.92 and a beta of 0.23.

BioNTech (NASDAQ:BNTX) last announced its earnings results on Monday, August 5th. The company reported ($3.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.02) by ($1.34). BioNTech had a negative net margin of 18.69% and a negative return on equity of 2.54%. The business had revenue of $128.70 million during the quarter, compared to analyst estimates of $134.98 million. During the same quarter last year, the business posted ($0.86) earnings per share. The business’s quarterly revenue was down 23.3% compared to the same quarter last year. On average, analysts anticipate that BioNTech will post -2.8 earnings per share for the current year.

Hedge Funds Weigh In On BioNTech

A number of institutional investors have recently modified their holdings of the stock. Jump Financial LLC bought a new position in BioNTech in the 4th quarter worth approximately $268,000. Quadrant Capital Group LLC bought a new stake in BioNTech during the 4th quarter worth about $85,000. Dynamic Technology Lab Private Ltd lifted its position in BioNTech by 2.5% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 4,666 shares of the company’s stock valued at $492,000 after purchasing an additional 116 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of BioNTech by 207.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,583 shares of the company’s stock valued at $273,000 after purchasing an additional 1,743 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of BioNTech by 6.8% during the 4th quarter. Wells Fargo & Company MN now owns 82,171 shares of the company’s stock worth $8,672,000 after buying an additional 5,227 shares during the period. 15.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BNTX has been the topic of several research reports. Hsbc Global Res upgraded BioNTech from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. TD Cowen dropped their price objective on shares of BioNTech from $98.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. HSBC upgraded shares of BioNTech from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group raised shares of BioNTech from a “hold” rating to a “buy” rating and increased their price target for the stock from $96.00 to $150.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised BioNTech from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $91.00 to $125.00 in a report on Monday. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $118.00.

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.