BioNTech (NASDAQ:BNTX) Trading Down 0.3% - What's Next?

On Wednesday, shares of BioNTech SE (NASDAQ:BNTX) experienced a slight decline of 0.3% during mid-day trading. The stock hit a low of $114.04 before closing at $115.30. During this trading session, about 65,586 shares were exchanged, marking a significant drop of 92% compared to the average daily volume of 810,809 shares. The previous day’s closing price was $115.59.

Wall Street Analysts Forecast Growth

Several analysts have recently shared their insights on BioNTech's stock performance. UBS Group raised their target price for BioNTech from $97.00 to $131.00 and maintained a 'neutral' rating in a report published on September 18. Jefferies Financial Group upgraded the stock from 'hold' to 'buy', bumping their price target from $96.00 to $150.00 on September 17. Additionally, HC Wainwright reaffirmed their 'buy' rating with a price target of $150.00 in a November 18 report. Morgan Stanley also improved their rating from 'equal weight' to 'overweight', increasing the price target from $93.00 to $145.00 on September 24. Furthermore, Bank of America increased their price target from $125.00 to $150.00, maintaining a 'buy' rating as of September 16. Currently, four analysts have rated BioNTech as a hold, eleven as a buy, and one as a strong buy, leading to an average rating of 'Moderate Buy' with a target price of $138.67 according to MarketBeat.com.

BioNTech's Recent Earnings

The trading performance for BioNTech follows their recent earnings announcement on November 4. The company reported earnings per share (EPS) of $0.81 for the quarter, surpassing analysts' expectations of a loss of $1.26 by a substantial margin of $2.07. Although BioNTech registered a negative net margin of 15.16% and a negative return on equity of 2.35%, their revenue hit $1.24 billion. This figure exceeded analysts' projections of $514.08 million and represented a 38.9% increase in revenue compared to the same quarter last year. Analysts predict that BioNTech SE will report an EPS of -3.72 for the current fiscal year.

Institutional Investors are Active

Recent trading activity indicates that several hedge funds and institutional investors are showing interest in BioNTech. GAMMA Investing LLC increased their stake in the company by 21.7% during the third quarter, now owning 623 shares valued at $74,000 after acquiring 111 additional shares. EverSource Wealth Advisors LLC more than doubled their position in the first quarter, owning 489 shares worth $43,000 after purchasing 252 shares. Blue Trust Inc. expanded their holdings by 491.1% in the third quarter, gaining 467 shares worth $55,000 after an additional 388 shares purchase. In the same timeframe, Gallacher Capital Management LLC grew its stake by 12.1%, now holding 3,657 shares valued at $294,000 after buying an additional 395 shares. Lastly, TD Asset Management Inc. increased their holdings by 6.1%, now owning 7,590 shares valued at $612,000 after the acquisition of 435 shares. Overall, institutional investors hold 15.52% of BioNTech's stock.

About BioNTech

BioNTech SE is a biotechnology company focused on developing and commercializing immunotherapies aimed at treating cancer and other infectious diseases. The company is currently working on several FixVac product candidates, including BNT111 in Phase II clinical trials for advanced melanoma, BNT112 targeting prostate cancer in Phase I/IIa trials, BNT113 which is in Phase II trials for HPV 16+ head and neck cancers, BNT114 for treating triple-negative breast cancer, BNT115 in Phase I trials for ovarian cancer, and BNT116 for non-small cell lung cancer in Phase I trials.

BioNTech, Stocks, Earnings