The Manufacturers Life Insurance Company Takes $2.49 Million Position in BioNTech SE (NASDAQ:BNTX)

The Manufacturers Life Insurance Company purchased a new stake in BioNTech SE (NASDAQ:BNTX - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 20,929 shares of the company's stock, valued at approximately $2,486,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Candriam S.C.A. increased its holdings in shares of BioNTech by 261.2% in the 2nd quarter. Candriam S.C.A. now owns 578,998 shares of the company's stock valued at $46,526,000 after acquiring an additional 418,695 shares during the period. Point72 Asset Management L.P. raised its stake in shares of BioNTech by 283.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 461,711 shares of the company's stock worth $37,103,000 after acquiring an additional 341,311 shares in the last quarter. New York State Common Retirement Fund lifted its position in BioNTech by 457.9% during the third quarter. New York State Common Retirement Fund now owns 218,067 shares of the company's stock valued at $25,900,000 after acquiring an additional 178,981 shares during the last quarter. abrdn plc lifted its holdings in shares of BioNTech by 334.4% during the 3rd quarter. abrdn plc now owns 225,992 shares of the company's stock valued at $26,841,000 after purchasing an additional 173,969 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of BioNTech by 123.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 134,036 shares of the company's stock worth $15,919,000 after purchasing an additional 74,119 shares in the last quarter. 15.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BNTX shares. Jefferies Financial Group raised BioNTech from a "hold" rating to a "buy" rating and raised their price objective for the stock from $96.00 to $150.00 in a research report on Tuesday, September 17th. Evercore ISI upgraded shares of BioNTech from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $110.00 to $125.00 in a report on Tuesday, November 19th. Canaccord Genuity Group upped their price objective on shares of BioNTech from $171.00 to $171.44 and gave the company a "buy" rating in a report on Wednesday, November 27th. The Goldman Sachs Group upgraded shares of BioNTech from a "neutral" rating to a "buy" rating and upped their price objective for the company from $90.00 to $137.00 in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of BioNTech from $95.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, BioNTech currently has an average rating of "Moderate Buy" and a consensus price target of $138.67.

BioNTech Stock Performance

BioNTech stock traded down $0.90 during mid-day trading on Monday, hitting $120.82. The company had a trading volume of 515,841 shares, compared to its average volume of 811,532. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. BioNTech SE has a 12-month low of $76.53 and a 12-month high of $131.49. The company's fifty day moving average is $113.91 and its 200-day moving average is $99.60. The company has a market capitalization of $28.72 billion, a price-to-earnings ratio of -57.05 and a beta of 0.22.

BioNTech (NASDAQ:BNTX - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of ($1.26) by $2.07. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $514.08 million. During the same quarter in the prior year, the firm posted $0.73 EPS. The business's quarterly revenue was up 38.9% compared to the same quarter last year. Equities research analysts predict that BioNTech SE will post -3.72 EPS for the current year.

BioNTech 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.