BioNTech (NASDAQ:BNTX) Stock Price Down 2.8% on Analyst Downgrade

BioNTech SE (NASDAQ:BNTX) dropped 2.8% during mid-day trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $124.00 to $122.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. BioNTech traded as low as $117.00 and last traded at $117.40. Approximately 308,482 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 815,980 shares. The stock had previously closed at $120.76.

A number of other analysts have also recently commented on BNTX. TD Cowen cut their price target on shares of BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Hsbc Global Res raised BioNTech from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Bank of America lifted their target price on BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 16th. HC Wainwright restated a “buy” rating and set a $150.00 price target on shares of BioNTech in a report on Monday, November 18th. Finally, UBS Group lifted their price objective on shares of 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, BioNTech has an average rating of “Moderate Buy” and an average target price of $138.64.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Planning Capital Management Corp boosted its holdings in BioNTech by 45,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock worth $54,000 after acquiring an additional 450 shares during the last quarter. Blue Trust Inc. grew its position in BioNTech by 491.1% during the third quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $55,000 after buying an additional 388 shares during the period. EverSource Wealth Advisors LLC increased its holdings in BioNTech by 106.3% during the first quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after buying an additional 252 shares during the last quarter. GAMMA Investing LLC raised its position in BioNTech by 86.9% in the second quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock worth $41,000 after acquiring an additional 238 shares during the period. Finally, Clear Harbor Asset Management LLC purchased a new position in BioNTech in the third quarter valued at about $210,000. 15.52% of the stock is currently owned by institutional investors and hedge funds.

BioNTech Stock Down 1.8 %

The stock’s 50-day moving average price is $113.54 and its two-hundred day moving average price is $98.00. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $28.42 billion, a P/E ratio of -56.45 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of ($1.26) by $2.07. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $514.08 million. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 EPS. As a group, research analysts expect that BioNTech SE will post -3.68 earnings per share for the current fiscal 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.