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

BioNTech SE (NASDAQ:BNTX) shares dropped 2.8% during 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 traded 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.

Other equities research analysts have also issued reports about the stock. Bank of America increased their target price on shares of BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Morgan Stanley raised shares of BioNTech from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $93.00 to $145.00 in a research note on Tuesday, September 24th. HC Wainwright restated a “buy” rating and set a $150.00 target price on shares of BioNTech in a research note on Monday, November 18th. Berenberg Bank assumed coverage on BioNTech in a research note on Tuesday, November 19th. They issued a “buy” rating and a $130.00 price target for the company. Finally, TD Cowen decreased their price target on BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Four 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.64.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BNTX. Candriam S.C.A. raised its position in BioNTech by 261.2% during the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock valued at $46,526,000 after purchasing an additional 418,695 shares during the period. Baillie Gifford & Co. increased its position in shares of BioNTech by 0.4% during the 3rd quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock valued at $986,750,000 after purchasing an additional 31,773 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted 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 worth $2,249,000 after buying an additional 7,340 shares during the last quarter. Discovery Capital Management LLC CT purchased a new position in BioNTech during the second quarter worth $2,467,000. Finally, Deerfield Management Company L.P. Series C increased its position in BioNTech by 4.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock valued at $47,734,000 after acquiring an additional 24,426 shares during the last quarter. Institutional investors own 15.52% of the company’s stock.

BioNTech Trading Down 2.8 %

The company’s 50 day moving average price is $113.54 and its two-hundred day moving average price is $98.00. The firm has a market cap of $28.15 billion, a PE ratio of -55.90 and a beta of 0.26. The company has a quick ratio of 7.21, a current ratio of 7.33 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 for the quarter, topping analysts’ consensus estimates of ($1.26) by $2.07. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $514.08 million. During the same period in the prior year, the company posted $0.73 EPS. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, sell-side analysts forecast that BioNTech SE will post -3.68 EPS for the current year.

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.