BioNTech (NASDAQ:BNTX) Sees Unusually-High Trading Volume After Analyst Upgrade

BioNTech SE (NASDAQ:BNTX) saw unusually-high trading volume on Monday after Bank of America raised their price target on the stock from $125.00 to $150.00. Bank of America currently has a buy rating on the stock. Approximately 676,574 shares were traded during trading, a decline of 9% from the previous session’s volume of 746,643 shares.The stock last traded at $123.20 and had previously closed at $123.40.

A number of other brokerages have also recently weighed in on BNTX. HC Wainwright reissued a “buy” rating and issued a $113.00 price target on shares of BioNTech in a research report on Monday. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. HSBC raised shares of BioNTech from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised shares of BioNTech from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $91.00 to $125.00 in a research report on Monday. Finally, TD Cowen reduced their price target on shares of BioNTech from $98.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.85.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Candriam S.C.A. increased its stake 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 acquiring an additional 418,695 shares during the period. Neuberger Berman Group LLC acquired a new position in shares of BioNTech during the fourth quarter worth about $1,562,000. US Bancorp DE increased its stake in shares of BioNTech by 420.7% during the fourth quarter. US Bancorp DE now owns 28,614 shares of the company’s stock worth $3,020,000 after acquiring an additional 23,119 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of BioNTech by 17.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 182,878 shares of the company’s stock worth $19,301,000 after acquiring an additional 26,777 shares during the period. Finally, Harding Loevner LP acquired a new position in shares of BioNTech during the fourth quarter worth about $410,984,000. 15.52% of the stock is currently owned by institutional investors and hedge funds.

BioNTech Trading Up 0.1 %

The stock has a market cap of $29.35 billion, a PE ratio of 246.94 and a beta of 0.23. The business’s fifty day moving average is $88.13 and its 200 day moving average is $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 (NASDAQ:BNTX) last released its quarterly earnings data on Monday, August 5th. The company reported ($3.36) EPS for the quarter, missing analysts’ consensus estimates of ($2.02) by ($1.34). The company had revenue of $128.70 million for the quarter, compared to analysts’ expectations of $134.98 million. BioNTech had a negative return on equity of 2.54% and a negative net margin of 18.69%. The firm’s quarterly revenue was down 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.86) EPS. As a group, analysts predict that BioNTech SE will post -2.8 earnings per share for the current year.

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.