BioNTech (NASDAQ:BNTX) Stock Price Down 3.4%

Shares of BioNTech SE (NASDAQ:BNTX) dropped 3.4% during mid-day trading on Thursday . The stock traded as low as $95.60 and last traded at $95.85. Approximately 236,594 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 706,392 shares. The stock had previously closed at $99.27.

Analyst Upgrades and Downgrades

BNTX has been the topic of several research reports. HSBC upgraded shares of BioNTech from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group lifted their price target on shares of BioNTech from $90.00 to $96.00 and gave the company a “hold” rating in a report on Friday. Hsbc Global Res upgraded shares of BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised shares of BioNTech from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of BioNTech from $94.00 to $91.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $108.00.

BioNTech Stock Performance

The stock has a fifty day moving average price of $87.28 and a two-hundred day moving average price of $89.69. The company has a market cap of $29.34 billion, a P/E ratio of 246.80 and a beta of 0.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.54 and a quick ratio of 7.40.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings data on Monday, August 5th. The company reported ($3.36) earnings per share for the quarter, missing the consensus estimate of ($2.02) by ($1.34). The firm had revenue of $128.70 million for the quarter, compared to analysts’ expectations of $134.98 million. BioNTech had a negative return on equity of 2.54% and a negative net margin of 18.69%. The company’s revenue for the quarter was down 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.86) earnings per share. On average, equities analysts forecast that BioNTech SE will post -2.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in shares of BioNTech during the second quarter worth approximately $223,000. Granite Bay Wealth Management LLC bought a new position in shares of BioNTech in the 2nd quarter valued at about $1,483,000. Scientech Research LLC bought a new stake in shares of BioNTech during the 2nd quarter worth about $1,127,000. Deerfield Management Company L.P. Series C boosted its holdings in BioNTech by 4.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock valued at $47,734,000 after purchasing an additional 24,426 shares during the period. Finally, Employees Retirement System of Texas raised its position in shares of BioNTech by 15.7% in the 2nd quarter. Employees Retirement System of Texas now owns 30,388 shares of the company’s stock valued at $2,442,000 after buying an additional 4,115 shares in the last quarter. 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.