BioNTech (NASDAQ:BNTX) Stock Price Down 1.6% – Here’s Why

BioNTech SE (NASDAQ:BNTX) dropped 1.6% on Monday . The stock traded as low as $119.68 and last traded at $119.80. Approximately 132,183 shares were traded during trading, a decline of 84% from the average daily volume of 809,803 shares. The stock had previously closed at $121.72.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. The Goldman Sachs Group raised BioNTech from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $137.00 in a research report on Friday, November 8th. HSBC boosted their price objective on shares of BioNTech from $97.00 to $136.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Evercore ISI upgraded shares of BioNTech from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $110.00 to $125.00 in a report on Tuesday, November 19th. Jefferies Financial Group upgraded BioNTech from a “hold” rating to a “buy” rating and upped their price target for the stock from $96.00 to $150.00 in a research note on Tuesday, September 17th. Finally, UBS Group lifted their price objective on BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, BioNTech has an average rating of “Moderate Buy” and a consensus price target of $138.67.

BioNTech Stock Performance

The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $113.91 and a 200 day moving average of $99.60. The company has a market capitalization of $28.98 billion, a P/E ratio of -57.05 and a beta of 0.22.

BioNTech (NASDAQ:BNTX) last posted its earnings results on Monday, November 4th. The company reported $0.81 earnings per share for the quarter, beating 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 net margin of 15.16% and a negative return on equity of 2.35%. BioNTech’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. On average, sell-side analysts predict that BioNTech SE will post -3.72 earnings per share for the current year.

Hedge Funds Weigh In On BioNTech

A number of large investors have recently made changes to their positions in the company. Candriam S.C.A. increased its position in shares of BioNTech by 261.2% during the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after purchasing an additional 418,695 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of BioNTech in the third quarter worth about $59,485,000. Baillie Gifford & Co. lifted its holdings in shares of BioNTech by 0.4% during the third quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock worth $986,750,000 after purchasing an additional 31,773 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in BioNTech by 63.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 18,939 shares of the company’s stock valued at $2,249,000 after buying an additional 7,340 shares during the last quarter. Finally, Discovery Capital Management LLC CT acquired a new position in BioNTech in the 2nd quarter worth approximately $2,467,000. 15.52% of the stock is owned by hedge funds and other institutional investors.

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.