BioNTech (NASDAQ:BNTX) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of BioNTech (NASDAQ:BNTX) from a hold rating to a sell rating in a research report report published on Saturday.

A number of other research firms have also recently issued reports on BNTX. Sanford C. Bernstein restated a “market perform” rating on shares of BioNTech in a report on Friday, June 5th. Jefferies Financial Group reiterated a “buy” rating on shares of BioNTech in a research report on Monday, June 1st. Canaccord Genuity Group set a $142.00 target price on shares of BioNTech in a research note on Wednesday, August 5th. Morgan Stanley reduced their price target on shares of BioNTech from $126.00 to $119.00 and set an “overweight” rating for the company in a report on Wednesday, July 8th. Finally, Citigroup cut their price objective on shares of BioNTech from $130.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.81.

BioNTech Stock Performance

Shares of BNTX opened at $92.80 on Friday. The company has a current ratio of 7.85, a quick ratio of 7.80 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $91.38 and its two-hundred day simple moving average is $96.75. BioNTech has a 12 month low of $79.52 and a 12 month high of $124.00. The stock has a market capitalization of $23.47 billion, a P/E ratio of -11.85 and a beta of 1.27.

BioNTech announced that its board has initiated a stock repurchase plan on Thursday, May 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC increased its position in shares of BioNTech by 86.4% during the fourth quarter. Larson Financial Group LLC now owns 274 shares of the company’s stock worth $26,000 after acquiring an additional 127 shares in the last quarter. EFG International AG bought a new position in BioNTech in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd boosted its stake in BioNTech by 520.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company’s stock valued at $30,000 after purchasing an additional 260 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in BioNTech by 118.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 563 shares of the company’s stock worth $60,000 after purchasing an additional 305 shares in the last quarter. Finally, Vestcor Inc bought a new stake in BioNTech during the 4th quarter worth approximately $153,000. 15.52% of the stock is owned by institutional investors.

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.