BioNTech (NASDAQ:BNTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BioNTech (NASDAQ:BNTX) from a sell rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Several other research analysts have also recently issued reports on the stock. BMO Capital Markets cut shares of BioNTech from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $128.00 to $105.00 in a report on Tuesday, September 8th. Wells Fargo & Company lowered their price target on shares of BioNTech from $140.00 to $125.00 and set an “overweight” rating for the company in a report on Wednesday, November 4th. Argus assumed coverage on shares of BioNTech in a research report on Thursday, October 8th. They set a “hold” rating for the company. Canaccord Genuity Group dropped their price target on shares of BioNTech from $136.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, October 14th. Finally, Berenberg Bank set a $140.00 price target on shares of BioNTech in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.27.

BioNTech Price Performance

Shares of BioNTech stock opened at $87.51 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.55 and a quick ratio of 7.80. The business’s 50 day simple moving average is $94.37 and its two-hundred day simple moving average is $96.55. The stock has a market capitalization of $22.13 billion, a P/E ratio of -12.78 and a beta of 1.28. BioNTech has a one year low of $79.52 and a one year high of $124.00.

Insider Buying and Selling

In other BioNTech news, CEO Ugur Sahin sold 72,000 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $97.23, for a total transaction of $7,000,560.00. Following the completion of the transaction, the chief executive officer owned 108,209 shares of the company’s stock, valued at approximately $10,521,161.07. This trade represents a 39.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 807,209 shares of company stock worth $79,246,837 over the last ninety days. Company insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Flossbach Von Storch SE bought a new stake in BioNTech during the second quarter worth about $207,142,000. Bank of America Corp DE increased its stake in shares of BioNTech by 22.6% during the first quarter. Bank of America Corp DE now owns 903,029 shares of the company’s stock valued at $80,261,000 after purchasing an additional 166,432 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of BioNTech by 116.0% during the first quarter. First Trust Advisors LP now owns 839,991 shares of the company’s stock valued at $74,658,000 after purchasing an additional 451,124 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of BioNTech by 79.7% during the third quarter. Assenagon Asset Management S.A. now owns 760,675 shares of the company’s stock valued at $74,774,000 after purchasing an additional 337,412 shares during the last quarter. Finally, Candriam S.C.A. boosted its position in shares of BioNTech by 4.7% in the 3rd quarter. Candriam S.C.A. now owns 520,972 shares of the company’s stock worth $51,399,000 after purchasing an additional 23,442 shares in the last quarter. 15.52% of the stock is currently owned by institutional investors.

BioNTech Company Profile

BioNTech SE is a biotechnology company based in Mainz, Germany. Founded in 2008, it develops medicines and vaccines, with a focus on immunotherapies for cancer and infectious diseases.

The company’s research uses technologies including messenger RNA (mRNA), antibodies, and cell-based therapies. Its best-known product is Comirnaty, an mRNA vaccine against COVID-19 developed and commercialized in partnership with Pfizer. BioNTech also has a broad oncology research and development portfolio.

BioNTech works with partners to develop and distribute products internationally.