BioNTech (NASDAQ:BNTX) Sees Strong Trading Volume – What’s Next?

Shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX) saw strong trading volume on Thursday . 1,344,176 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 1,058,182 shares.The stock last traded at $88.79 and had previously closed at $86.15.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of BioNTech from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Sanford C. Bernstein reissued a “market perform” rating on shares of BioNTech in a research note on Friday, June 5th. Jefferies Financial Group reissued a “buy” rating on shares of BioNTech in a research note on Monday, June 1st. Truist Financial raised BioNTech to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Bank of America reissued a “buy” rating and issued a $128.00 price target on shares of BioNTech in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioNTech has a consensus rating of “Moderate Buy” and a consensus price target of $129.56.

BioNTech Price Performance

The stock has a 50 day moving average of $94.54 and a two-hundred day moving average of $98.57. The stock has a market cap of $22.40 billion, a PE ratio of -15.08 and a beta of 1.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.74 and a current ratio of 8.80.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($0.39) earnings per share for the quarter. BioNTech had a negative return on equity of 5.30% and a negative net margin of 44.39%.The company had revenue of $1.06 billion during the quarter. Equities analysts anticipate that BioNTech SE Sponsored ADR will post -4.66 EPS for the current year.

BioNTech declared that its board has authorized a stock buyback plan on Thursday, May 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other BioNTech news, COO Sierk Poetting sold 50,000 shares of BioNTech stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of $110.56, for a total transaction of $5,528,000.00. Following the transaction, the chief operating officer owned 399,387 shares of the company’s stock, valued at $44,156,226.72. The trade was a 11.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BioNTech

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pictet Asset Management Holding SA grew its stake in shares of BioNTech by 41.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 88,838 shares of the company’s stock valued at $8,457,000 after buying an additional 26,119 shares in the last quarter. Long Focus Capital Management LLC grew its stake in shares of BioNTech by 91.3% in the 3rd quarter. Long Focus Capital Management LLC now owns 397,655 shares of the company’s stock valued at $39,217,000 after buying an additional 189,752 shares in the last quarter. Hudson Bay Capital Management LP grew its stake in shares of BioNTech by 36.7% in the 3rd quarter. Hudson Bay Capital Management LP now owns 205,004 shares of the company’s stock valued at $20,217,000 after buying an additional 55,004 shares in the last quarter. LBP AM SA grew its stake in shares of BioNTech by 4.3% in the 4th quarter. LBP AM SA now owns 368,584 shares of the company’s stock valued at $35,089,000 after buying an additional 15,255 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of BioNTech by 97.0% in the 3rd quarter. Victory Capital Management Inc. now owns 413,685 shares of the company’s stock valued at $37,531,000 after buying an additional 203,700 shares in the last quarter. Hedge funds and other institutional investors own 15.52% of the company’s stock.

BioNTech Company Profile

BioNTech SE (NASDAQ: BNTX) is a Germany-based biotechnology company that develops next-generation immunotherapies and vaccines, with a primary focus on messenger RNA (mRNA) technology. Founded in 2008 and headquartered in Mainz, BioNTech advances a platform approach to design and manufacture therapeutics across oncology, infectious diseases and other high unmet-need areas. The company is publicly traded on the NASDAQ exchange and became widely known for its rapid development and global deployment of an mRNA-based COVID-19 vaccine in collaboration with Pfizer.

BioNTech’s core activities include discovery research, clinical development and manufacturing of mRNA-based medicines, personalized cancer immunotherapies, engineered cell therapies, and antibody- and protein-based therapeutics.