BioNTech (NASDAQ:BNTX) Shares Down 2.4% – Here’s Why

BioNTech SE (NASDAQ:BNTX)’s stock price fell 2.4% during trading on Tuesday . The stock traded as low as $100.19 and last traded at $99.85. 69,811 shares were traded during mid-day trading, a decline of 92% from the average session volume of 856,247 shares. The stock had previously closed at $102.34.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BNTX shares. Canaccord Genuity Group reissued a “buy” rating and issued a $171.44 price objective on shares of BioNTech in a research report on Tuesday, March 11th. Truist Financial assumed coverage on shares of BioNTech in a research report on Friday, January 10th. They set a “buy” rating and a $172.00 price objective for the company. BMO Capital Markets upped their target price on BioNTech from $130.00 to $143.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Citigroup started coverage on BioNTech in a report on Thursday, March 13th. They set a “buy” rating and a $145.00 price target for the company. Finally, HC Wainwright decreased their price objective on BioNTech from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.44.

BioNTech Trading Down 4.1 %

The firm’s 50-day simple moving average is $104.24 and its 200 day simple moving average is $111.51. The firm has a market capitalization of $23.55 billion, a price-to-earnings ratio of -46.72 and a beta of 1.07. 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 announced its quarterly earnings data on Monday, March 10th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.70. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the company earned $1.90 EPS. BioNTech’s revenue for the quarter was down 19.5% on a year-over-year basis. Equities analysts expect that BioNTech SE will post -3.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Daiwa Securities Group Inc. grew its holdings in BioNTech by 7.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,938 shares of the company’s stock worth $221,000 after acquiring an additional 128 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of BioNTech by 4.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,677 shares of the company’s stock worth $419,000 after purchasing an additional 150 shares during the period. Probity Advisors Inc. increased its holdings in BioNTech by 8.5% in the fourth quarter. Probity Advisors Inc. now owns 1,970 shares of the company’s stock valued at $224,000 after purchasing an additional 154 shares during the period. Midwest Professional Planners LTD. lifted its holdings in BioNTech by 5.8% during the 4th quarter. Midwest Professional Planners LTD. now owns 4,051 shares of the company’s stock worth $462,000 after buying an additional 222 shares during the period. Finally, Perigon Wealth Management LLC increased its stake in shares of BioNTech by 3.9% in the fourth quarter. Perigon Wealth Management LLC now owns 5,902 shares of the company’s stock valued at $666,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds own 15.52% of the company’s stock.

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.