Fred Alger Management LLC Makes New $59.49 Million Investment in BioNTech SE (NASDAQ:BNTX)

Fred Alger Management LLC bought a new position in shares of BioNTech SE (NASDAQ:BNTX) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 500,844 shares of the company’s stock, valued at approximately $59,485,000. Fred Alger Management LLC owned 0.21% of BioNTech at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Baillie Gifford & Co. lifted its holdings in BioNTech by 0.4% during the 3rd 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 during the period. FMR LLC raised its position in shares of BioNTech by 797.8% in the 3rd 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 raised its position in shares of BioNTech by 4.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock worth $47,734,000 after acquiring an additional 24,426 shares in the last quarter. Candriam S.C.A. raised its position in shares of BioNTech by 261.2% in 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 in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of BioNTech by 12.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 481,397 shares of the company’s stock worth $56,886,000 after acquiring an additional 53,800 shares in the last quarter. 15.52% of the stock is owned by institutional investors and hedge funds.

BioNTech Stock Up 1.8 %

Shares of BNTX opened at $120.72 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21. The stock has a 50 day moving average price of $113.52 and a two-hundred day moving average price of $98.35. BioNTech SE has a 52 week low of $76.53 and a 52 week high of $131.49.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of ($1.26) by $2.07. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $514.08 million. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 EPS. On average, analysts forecast that BioNTech SE will post -3.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BNTX shares. Evercore ISI raised BioNTech from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $110.00 to $125.00 in a research report on Tuesday, November 19th. Canaccord Genuity Group lifted their price objective on BioNTech from $171.00 to $171.44 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group raised BioNTech from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $96.00 to $150.00 in a research report on Tuesday, September 17th. Bank of America lifted their price objective on BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group raised BioNTech from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $137.00 in a research report on Friday, November 8th. Four equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $138.67.

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.