BioNTech (NASDAQ:BNTX) Shares Gap Down – Here’s What Happened

BioNTech SE (NASDAQ:BNTX) shares gapped down before the market opened on Friday . The stock had previously closed at $103.56, but opened at $99.89. BioNTech shares last traded at $97.91, with a volume of 505,019 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BNTX. TD Cowen reduced their target price on BioNTech from $132.00 to $122.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group raised shares of BioNTech from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $137.00 in a report on Friday, November 8th. Jefferies Financial Group upgraded shares of BioNTech from a “hold” rating to a “buy” rating and upped their target price for the company from $96.00 to $150.00 in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on BioNTech from $95.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Bank of America raised their price target on shares of BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $137.54.

BioNTech Stock Down 4.3 %

The business has a fifty day moving average price of $113.34 and a two-hundred day moving average price of $97.10. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. The company has a market cap of $23.76 billion, a price-to-earnings ratio of -45.62 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last posted its earnings results on Monday, November 4th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of ($1.26) by $2.07. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $514.08 million. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share. On average, equities analysts predict that BioNTech SE will post -3.47 earnings per share for the current year.

Institutional Trading of BioNTech

A number of institutional investors and hedge funds have recently modified their holdings of BNTX. FMR LLC boosted its holdings in BioNTech by 797.8% during the third quarter. FMR LLC now owns 6,299,929 shares of the company’s stock valued at $748,243,000 after acquiring an additional 5,598,190 shares during the period. Fred Alger Management LLC bought a new position in BioNTech in the 3rd quarter worth approximately $59,485,000. Candriam S.C.A. increased its position in BioNTech by 261.2% in the 2nd quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after buying an additional 418,695 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of BioNTech by 283.5% during the second quarter. Point72 Asset Management L.P. now owns 461,711 shares of the company’s stock worth $37,103,000 after buying an additional 341,311 shares during the last quarter. Finally, Braidwell LP acquired a new stake in shares of BioNTech in the third quarter worth $29,425,000. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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.