BioNTech (NASDAQ:BNTX) Stock Price Down 2.3% - Here's Why

BioNTech SE (NASDAQ:BNTX - Get Free Report)'s share price traded down 2.3% during trading on Monday . The stock traded as low as $116.45 and last traded at $117.63. 159,342 shares were traded during mid-day trading, a decline of 80% from the average session volume of 805,760 shares. The stock had previously closed at $120.38.

Wall Street Analyst Weigh In

Several analysts have weighed in on BNTX shares. Jefferies Financial Group raised shares of BioNTech from a "hold" rating to a "buy" rating and boosted their target price for the stock from $96.00 to $150.00 in a research report on Tuesday, September 17th. BMO Capital Markets reissued an "outperform" rating on shares of BioNTech in a research report on Monday, December 2nd. Bank of America lifted their price target on BioNTech from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. JPMorgan Chase & Co. cut their price objective on BioNTech from $124.00 to $122.00 and set a "neutral" rating on the stock in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group upgraded BioNTech from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $90.00 to $137.00 in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $140.76.

BioNTech Trading Down 5.1 %

The company's 50-day moving average is $113.72 and its 200 day moving average is $100.54. The company has a market cap of $27.15 billion, a price-to-earnings ratio of -54.39 and a beta of 0.22. 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 - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.81 earnings per share 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 analyst estimates of $514.08 million. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. BioNTech's revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.73 EPS. Research analysts predict that BioNTech SE will post -3.72 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Exome Asset Management LLC acquired a new position in BioNTech during the third quarter worth $4,104,000. Vestcor Inc purchased a new stake in shares of BioNTech in the third quarter valued at approximately $784,000. Y Intercept Hong Kong Ltd purchased a new position in shares of BioNTech during the 3rd quarter worth $718,000. XTX Topco Ltd acquired a new stake in shares of BioNTech during the 3rd quarter worth approximately $459,000. Finally, State Street Corp lifted its stake in shares of BioNTech by 2.0% in the 3rd quarter. State Street Corp now owns 155,867 shares of the company's stock valued at $18,512,000 after purchasing an additional 3,014 shares during the last quarter. Hedge funds and other institutional investors own 15.52% of the company's stock.

About BioNTech

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.