BioNTech (NASDAQ:BNTX) Shares Down 2.8% After Analyst Downgrade

BioNTech SE (NASDAQ:BNTX) shares fell 2.8% 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. 308,482 shares changed hands during trading, a decline of 62% from the average session volume of 815,980 shares. The stock had previously closed at $120.76.

BNTX has been the subject of several other reports. Berenberg Bank began coverage on shares of BioNTech in a report on Tuesday, November 19th. They issued a “buy” rating and a $130.00 price target for the company. Jefferies Financial Group raised BioNTech from a “hold” rating to a “buy” rating and upped their target price for the stock from $96.00 to $150.00 in a research note on Tuesday, September 17th. UBS Group lifted their price target on shares of BioNTech from $97.00 to $131.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Morgan Stanley raised shares of BioNTech from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $93.00 to $145.00 in a research note on Tuesday, September 24th. Finally, 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 note on Friday, November 8th. Four equities 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $138.64.

Hedge Funds Weigh In On BioNTech

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of BioNTech by 86.9% in the second quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock worth $41,000 after purchasing an additional 238 shares during the period. EverSource Wealth Advisors LLC raised its stake in BioNTech by 106.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock valued at $43,000 after purchasing an additional 252 shares during the period. Planning Capital Management Corp grew 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 valued at $54,000 after buying an additional 450 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of BioNTech by 491.1% in the third quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after buying an additional 388 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in BioNTech by 430.3% during the second quarter. Daiwa Securities Group Inc. now owns 1,925 shares of the company’s stock valued at $155,000 after acquiring an additional 1,562 shares in the last quarter. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

BioNTech Stock Performance

The firm has a market cap of $28.42 billion, a PE ratio of -56.45 and a beta of 0.26. The firm’s 50 day simple moving average is $113.54 and its 200 day simple moving average 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.

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