BioNTech (NASDAQ:BNTX) Trading Down 6.4% Following Analyst Downgrade

BioNTech SE (NASDAQ:BNTX - Get Free Report)'s share price dropped 6.4% on Tuesday after Morgan Stanley lowered their price target on the stock from $145.00 to $139.00. Morgan Stanley currently has an overweight rating on the stock. BioNTech traded as low as $98.25 and last traded at $98.61. Approximately 739,834 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 787,574 shares. The stock had previously closed at $105.35.

Other research analysts also recently issued reports about the stock. Berenberg Bank initiated coverage on shares of BioNTech in a research report on Tuesday, November 19th. They issued a "buy" rating and a $130.00 target price on the stock. Canaccord Genuity Group restated a "buy" rating and set a $171.44 price target on shares of BioNTech in a research report on Tuesday. Wells Fargo & Company began coverage on shares of BioNTech in a research note on Wednesday, December 11th. They set an "overweight" rating and a $170.00 price objective for the company. BMO Capital Markets increased their price objective on BioNTech from $130.00 to $143.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $150.00 target price on shares of BioNTech in a research report on Monday, November 18th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, BioNTech currently has a consensus rating of "Moderate Buy" and an average target price of $143.65.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in BioNTech by 797.8% during the third quarter. FMR LLC now owns 6,299,929 shares of the company's stock valued at $748,243,000 after acquiring an additional 5,598,190 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of BioNTech during the fourth quarter valued at approximately $69,999,000. Fred Alger Management LLC purchased a new stake in shares of BioNTech in the third quarter valued at approximately $59,485,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of BioNTech by 632.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 501,897 shares of the company's stock valued at $57,191,000 after purchasing an additional 433,388 shares during the period. Finally, Capital International Investors raised its stake in BioNTech by 38.6% in the fourth quarter. Capital International Investors now owns 1,415,566 shares of the company's stock worth $161,304,000 after buying an additional 394,434 shares in the last quarter. Institutional investors own 15.52% of the company's stock.

BioNTech Stock Down 6.4 %

The company has a market cap of $23.63 billion, a P/E ratio of -46.96 and a beta of 0.30. The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01. The business's 50 day moving average is $116.76 and its 200 day moving average is $113.06.

BioNTech (NASDAQ:BNTX - Get Free Report) last announced its quarterly earnings data on Monday, March 10th. The company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.70. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the company earned $1.90 earnings per share. The business's quarterly revenue was down 19.5% compared to the same quarter last year. As a group, equities analysts anticipate that BioNTech SE will post -3.88 earnings per share for the current fiscal year.

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.

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