Hsbc Holdings PLC Trims Holdings in BioNTech SE Sponsored ADR $BNTX

Hsbc Holdings PLC trimmed its holdings in shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX) by 60.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,834 shares of the company’s stock after selling 31,445 shares during the quarter. Hsbc Holdings PLC’s holdings in BioNTech were worth $1,839,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BNTX. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of BioNTech in the first quarter worth about $6,905,000. Quantum Portfolio Management LLC bought a new stake in BioNTech during the 1st quarter valued at about $203,000. USS Investment Management Ltd lifted its holdings in BioNTech by 1.2% during the 1st quarter. USS Investment Management Ltd now owns 32,577 shares of the company’s stock valued at $2,854,000 after buying an additional 382 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in BioNTech by 48.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 131,798 shares of the company’s stock valued at $11,236,000 after buying an additional 42,960 shares during the period. Finally, Ground Swell Capital LLC purchased a new stake in BioNTech in the 1st quarter valued at about $258,000. 15.52% of the stock is owned by hedge funds and other institutional investors.

BioNTech Price Performance

NASDAQ:BNTX opened at $89.33 on Monday. BioNTech SE Sponsored ADR has a fifty-two week low of $79.52 and a fifty-two week high of $124.00. The stock has a market capitalization of $22.59 billion, a P/E ratio of -15.19 and a beta of 1.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.74 and a current ratio of 8.80. The company’s 50-day simple moving average is $91.29 and its 200-day simple moving average is $97.68.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings data on Monday, May 4th. The company reported ($2.26) EPS for the quarter, topping the consensus estimate of ($2.52) by $0.26. The firm had revenue of $136.71 million during the quarter, compared to analyst estimates of $207.42 million. BioNTech had a negative net margin of 44.39% and a negative return on equity of 5.30%. BioNTech’s revenue was down 35.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.73) EPS. On average, equities analysts anticipate that BioNTech SE Sponsored ADR will post -5.79 earnings per share for the current fiscal year.

BioNTech announced that its board has authorized a share buyback program on Thursday, May 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of BioNTech from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Berenberg Bank lowered their price target on BioNTech from $155.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. UBS Group raised BioNTech from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $117.00 to $135.00 in a research note on Wednesday, May 27th. Canaccord Genuity Group reduced their price objective on BioNTech from $171.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $130.00 target price on shares of BioNTech in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BioNTech presently has an average rating of “Moderate Buy” and a consensus price target of $129.12.

BioNTech Company Profile

BioNTech SE (NASDAQ: BNTX) is a Germany-based biotechnology company that develops next-generation immunotherapies and vaccines, with a primary focus on messenger RNA (mRNA) technology. Founded in 2008 and headquartered in Mainz, BioNTech advances a platform approach to design and manufacture therapeutics across oncology, infectious diseases and other high unmet-need areas. The company is publicly traded on the NASDAQ exchange and became widely known for its rapid development and global deployment of an mRNA-based COVID-19 vaccine in collaboration with Pfizer.

BioNTech’s core activities include discovery research, clinical development and manufacturing of mRNA-based medicines, personalized cancer immunotherapies, engineered cell therapies, and antibody- and protein-based therapeutics.