BioNTech SE Sponsored ADR $BNTX Position Increased by Royal Bank of Canada

Royal Bank of Canada increased its stake in shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX) by 15.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 46,991 shares of the company’s stock after acquiring an additional 6,308 shares during the period. Royal Bank of Canada’s holdings in BioNTech were worth $4,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in BNTX. NewEdge Advisors LLC acquired a new position in shares of BioNTech during the first quarter valued at $167,000. Russell Investments Group Ltd. lifted its position in BioNTech by 368,800.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,067 shares of the company’s stock valued at $1,178,000 after purchasing an additional 11,064 shares during the last quarter. Natixis bought a new stake in BioNTech in the 2nd quarter valued at about $985,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in BioNTech by 2.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 492,045 shares of the company’s stock valued at $52,416,000 after purchasing an additional 13,788 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in BioNTech by 8.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 192,789 shares of the company’s stock worth $20,526,000 after purchasing an additional 14,950 shares during the last quarter. 15.52% of the stock is owned by institutional investors and hedge funds.

BioNTech Trading Down 0.7%

Shares of NASDAQ:BNTX opened at $92.12 on Friday. The company has a 50 day moving average of $91.59 and a 200-day moving average of $96.22. The firm has a market cap of $23.30 billion, a P/E ratio of -11.77 and a beta of 1.27. BioNTech SE Sponsored ADR has a twelve month low of $79.52 and a twelve month high of $124.00. The company has a current ratio of 7.85, a quick ratio of 7.80 and a debt-to-equity ratio of 0.01.

BioNTech declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group upgraded shares of BioNTech from a “neutral” rating to a “buy” rating and raised their price target for the company from $117.00 to $135.00 in a research note on Wednesday, May 27th. Jefferies Financial Group reissued a “buy” rating on shares of BioNTech in a report on Monday, June 1st. Sanford C. Bernstein restated a “market perform” rating on shares of BioNTech in a research report on Friday, June 5th. Morgan Stanley cut their target price on BioNTech from $126.00 to $119.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BioNTech in a research report on Monday, July 6th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.81.

About BioNTech

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.