BioNTech (NASDAQ:BNTX) Sets New 52-Week Low on Disappointing Earnings

BioNTech SE (NASDAQ:BNTX) hit a new 52-week low during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $77.02 and last traded at $77.02, with a volume of 59952 shares. The stock had previously closed at $82.01.

The company reported ($3.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.02) by ($1.34). The business had revenue of $128.70 million during the quarter, compared to analysts’ expectations of $134.98 million. BioNTech had a net margin of 4.01% and a return on equity of 0.55%. BioNTech’s revenue for the quarter was down 23.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.86) EPS.

Analyst Ratings Changes

Several equities research analysts have commented on BNTX shares. TD Cowen decreased their target price on shares of BioNTech from $98.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. HSBC raised shares of BioNTech from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. HC Wainwright restated a “buy” rating and issued a $113.00 price target on shares of BioNTech in a report on Thursday, August 1st. Finally, Evercore ISI began coverage on BioNTech in a report on Tuesday, May 14th. They set an “inline” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, BioNTech presently has an average rating of “Moderate Buy” and a consensus target price of $109.00.

Hedge Funds Weigh In On BioNTech

Several hedge funds have recently bought and sold shares of BNTX. GAMMA Investing LLC increased its position in BioNTech by 121.0% during the 1st quarter. GAMMA Investing LLC now owns 274 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. CWM LLC raised its position in shares of BioNTech by 657.6% in the fourth quarter. CWM LLC now owns 250 shares of the company’s stock valued at $26,000 after buying an additional 217 shares during the last quarter. Frazier Financial Advisors LLC purchased a new position in shares of BioNTech during the fourth quarter valued at approximately $30,000. First Horizon Advisors Inc. purchased a new stake in BioNTech in the 4th quarter worth approximately $38,000. Finally, Covestor Ltd raised its holdings in BioNTech by 47.2% in the 1st quarter. Covestor Ltd now owns 415 shares of the company’s stock valued at $38,000 after acquiring an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 15.52% of the company’s stock.

BioNTech Stock Up 1.5 %

The firm has a market cap of $18.90 billion, a price-to-earnings ratio of 159.00 and a beta of 0.23. The firm has a fifty day moving average price of $87.45 and a 200-day moving average price of $90.50. The company has a quick ratio of 11.16, a current ratio of 11.38 and a debt-to-equity ratio of 0.01.

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.