BioNTech (NASDAQ:BNTX) Shares Up 4.9% – Here’s Why

BioNTech SE (NASDAQ:BNTX)’s stock price shot up 4.9% on Tuesday . The company traded as high as $107.39 and last traded at $106.85. 392,585 shares traded hands during trading, a decline of 51% from the average session volume of 805,357 shares. The stock had previously closed at $101.87.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. HC Wainwright restated a “buy” rating and issued a $150.00 price target on shares of BioNTech in a research report on Monday. Evercore ISI upgraded shares of BioNTech from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $110.00 to $125.00 in a research report on Tuesday. Morgan Stanley upgraded shares of BioNTech from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $93.00 to $145.00 in a research report on Tuesday, September 24th. HSBC boosted their price objective on shares of BioNTech from $97.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. reduced their target price on BioNTech from $125.00 to $124.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BioNTech currently has a consensus rating of “Moderate Buy” and an average price target of $138.79.

BioNTech Price Performance

The company has a 50 day moving average price of $113.74 and a 200-day moving average price of $97.49. The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01.

BioNTech (NASDAQ:BNTX) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $2.07. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations 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 was up 38.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 EPS. On average, sell-side analysts predict that BioNTech SE will post -3.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BNTX. Covestor Ltd increased its stake in shares of BioNTech by 47.2% in the first quarter. Covestor Ltd now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 133 shares during the period. GAMMA Investing LLC increased its position in BioNTech by 86.9% during the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock valued at $41,000 after purchasing an additional 238 shares during the period. EverSource Wealth Advisors LLC increased its position in BioNTech by 106.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock valued at $43,000 after purchasing an additional 252 shares during the period. Planning Capital Management Corp raised its holdings in BioNTech by 45,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock worth $54,000 after purchasing an additional 450 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of BioNTech by 491.1% in the 3rd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after purchasing an additional 388 shares during the period. 15.52% of the stock is owned by institutional investors.

BioNTech Company Profile

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.