BioNTech (NASDAQ:BNTX) Stock Price Down 1.6% - Here's Why

BioNTech SE (NASDAQ:BNTX) saw a decrease of 1.6% in its stock price on Monday, with shares trading as low as $119.68 before closing at $119.80. The trading volume was around 132,183 shares, which is a significant decline of 84% from its average daily volume of 809,803 shares. The previous closing price was $121.72.

Analyst Ratings and Adjustments

In recent days, several analysts have shared their insights regarding BioNTech. Goldman Sachs raised their rating from "neutral" to "buy" and increased their price target from $90.00 to $137.00 on November 8th. Meanwhile, HSBC adjusted its price target from $97.00 to $136.00, giving the stock a "buy" rating on October 7th. Evercore ISI also upgraded BioNTech from "in-line" to "outperform," adjusting their target from $110.00 to $125.00 on November 19th. Furthermore, Jefferies Financial Group raised their rating from "hold" to "buy" and increased the target from $96.00 to $150.00 on September 17th. UBS Group lifted its price objective from $97.00 to $131.00 as well, maintaining a "neutral" rating on September 18th. Overall, four analysts have rated the stock as "hold," eleven have given it a "buy" rating, and one has a "strong buy" rating. As per MarketBeat.com, BioNTech has an average rating of "Moderate Buy" and a consensus price target of $138.67.

Performance Overview of BioNTech Stock

BioNTech is in a solid financial position, with a quick ratio of 7.21 and a current ratio of 7.33. The company's debt-to-equity ratio stands at 0.01. The stock shows a 50-day moving average of $113.91, whereas its 200-day moving average is $99.60. BioNTech currently holds a market capitalization of $28.98 billion, with a P/E ratio of -57.05 and a beta of 0.22.

On November 4th, BioNTech released its earnings results, reporting earnings of $0.81 per share, which significantly surpassed analysts' consensus estimates of ($1.26) by $2.07. The revenue for the quarter was reported at $1.24 billion, far exceeding the estimate of $514.08 million. However, the company experienced a negative net margin of 15.16% and a negative return on equity of 2.35%. Notably, there was a 38.9% increase in revenue compared to the same quarter from the previous year, where earnings per share were $0.73. Analysts predict that BioNTech SE will post earnings of -3.72 per share for the current year.

Hedge Fund Activities Regarding BioNTech

Several hedge funds have recently altered their stakes in BioNTech. Candriam S.C.A. increased its position by 261.2% during the second quarter, owning 578,998 shares valued at $46,526,000 after acquiring an extra 418,695 shares. Fred Alger Management LLC entered a new position worth about $59,485,000 in the third quarter. In addition, Baillie Gifford & Co. enhanced its holdings by 0.4%, owning 8,308,071 shares valued at approximately $986,750,000 after an extra purchase of 31,773 shares. China Universal Asset Management Co. Ltd. boosted its position by 63.3% in the third quarter as well. They now hold 18,939 shares valued at $2,249,000 after buying 7,340 additional shares. Discovery Capital Management LLC CT also acquired a new stake during the second quarter, approximately worth $2,467,000. Hedge funds and institutional investors collectively own 15.52% of the stock.

About BioNTech SE

BioNTech SE is a biotechnology firm focused on developing and commercializing immunotherapies aimed at treating cancer and infectious diseases. The company is working on several product candidates, including FixVac therapies like BNT111 for advanced melanoma, BNT112 for prostate cancer under a Phase I/IIa clinical trial, BNT113 for HPV 16+ head and neck cancers in Phase II, and others targeting various types of cancers.

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The information in this article provides a snapshot of the current status of BioNTech's stock and is intended for informational purposes only.

BioNTech, Stocks, Earnings