BioNTech (NASDAQ:BNTX) Now Covered by Argus

Key Points

• Argus initiated coverage of BioNTech with a “hold” rating. The broader analyst consensus remains “Moderate Buy,” with an average price target of $125.69.
• BioNTech opened at $95.25, with a market capitalization of about $24.09 billion and a 52-week trading range of $79.52 to $124.00. Its latest quarterly results missed estimates, including revenue of $122.31 million versus expectations of $180.18 million.
• CEO Ugur Sahin sold 24,000 shares for approximately $2.3 million under a pre-arranged Rule 10b5-1 plan; insiders sold 744,000 shares worth roughly $73.3 million during the quarter.

Equities research analysts at Argus started coverage on shares of BioNTech (NASDAQ:BNTX - Get Free Report) in a note issued to investors on Thursday, Briefing.com reports. The brokerage set a "hold" rating on the stock.

Other equities analysts have also recently issued research reports about the company. UBS Group reiterated a "buy" rating on shares of BioNTech in a report on Wednesday, September 16th. Berenberg Bank set a $140.00 target price on BioNTech in a research report on Wednesday, September 16th. Canaccord Genuity Group cut their target price on BioNTech from $142.00 to $136.00 and set a "buy" rating on the stock in a research note on Monday, August 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BioNTech in a research note on Friday, October 2nd. Finally, Wall Street Zen lowered shares of BioNTech from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BioNTech currently has a consensus rating of "Moderate Buy" and an average target price of $125.69.

BioNTech Price Performance

NASDAQ BNTX opened at $95.25 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.80 and a current ratio of 7.85. The stock has a market cap of $24.09 billion, a price-to-earnings ratio of -12.16 and a beta of 1.25. The business has a 50 day simple moving average of $99.06 and a 200 day simple moving average of $95.14. BioNTech has a 52-week low of $79.52 and a 52-week high of $124.00.

BioNTech (NASDAQ:BNTX - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.13). BioNTech had a negative net margin of 63.54% and a negative return on equity of 6.86%. The company had revenue of $122.31 million during the quarter, compared to analyst estimates of $180.18 million. During the same quarter last year, the company earned ($1.60) EPS. The firm's quarterly revenue was down 59.5% compared to the same quarter last year. Analysts anticipate that BioNTech will post -6.37 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ugur Sahin sold 24,000 shares of the stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $95.86, for a total value of $2,300,640.00. Following the completion of the sale, the chief executive officer owned 63,209 shares of the company's stock, valued at approximately $6,059,214.74. This represents a 27.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 744,000 shares of company stock worth $73,301,215. Corporate insiders own 19.20% of the company's stock.

Institutional Trading of BioNTech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Engineers Gate Manager LP raised its holdings in shares of BioNTech by 17.3% in the 2nd quarter. Engineers Gate Manager LP now owns 12,433 shares of the company's stock valued at $1,157,000 after purchasing an additional 1,833 shares during the period. Integrated Wealth Concepts LLC bought a new stake in BioNTech in the second quarter valued at approximately $39,000. Nykredit A S acquired a new stake in shares of BioNTech in the second quarter valued at approximately $293,000. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of BioNTech by 66.7% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 10,967 shares of the company's stock worth $1,020,000 after acquiring an additional 4,390 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of BioNTech during the 2nd quarter worth approximately $2,520,000. 15.52% of the stock is owned by institutional investors.

About BioNTech

BioNTech SE is a biotechnology company headquartered in Mainz, Germany, focused on developing therapies and vaccines for cancer and other serious diseases. The company's research platform includes messenger RNA (mRNA), individualized cancer vaccines, immune-modulating therapies, cell therapies, and protein-based therapeutics.

BioNTech is best known for developing the Comirnaty COVID-19 vaccine in collaboration with Pfizer. Comirnaty uses mRNA technology to help stimulate an immune response against COVID-19 and has been distributed in markets around the world.

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