HC Wainwright Issues Pessimistic Forecast for BioNTech (NASDAQ:BNTX) Stock Price

Key Points

• HC Wainwright cut BioNTech’s price target from $130 to $110 but maintained a Buy rating; the new target implies 25.7% upside from the current share price.
• Analyst sentiment remains broadly positive: BioNTech has a consensus “Moderate Buy” rating and an average target price of $122.27.
• CEO Ugur Sahin sold 72,000 shares for about $7.0 million under a pre-arranged trading plan; company insiders sold roughly $79.2 million in shares over the last quarter.

BioNTech (NASDAQ:BNTX - Get Free Report) had its price target decreased by investment analysts at HC Wainwright from $130.00 to $110.00 in a report issued on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target indicates a potential upside of 25.70% from the stock's current price.

Several other brokerages also recently weighed in on BNTX. Canaccord Genuity Group decreased their target price on shares of BioNTech from $136.00 to $132.00 and set a "buy" rating for the company in a research note on Wednesday, October 14th. Berenberg Bank set a $140.00 price objective on shares of BioNTech in a research report on Wednesday, September 16th. UBS Group lowered their target price on BioNTech from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Wednesday, November 4th. Morgan Stanley dropped their target price on BioNTech from $114.00 to $106.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 4th. Finally, Citigroup cut their price target on BioNTech from $130.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $122.27.

BioNTech Price Performance

Shares of NASDAQ:BNTX opened at $87.51 on Monday. The company has a quick ratio of 8.52, a current ratio of 8.55 and a debt-to-equity ratio of 0.01. BioNTech has a 52-week low of $79.52 and a 52-week high of $124.00. The company has a 50 day moving average of $94.66 and a two-hundred day moving average of $96.70. The company has a market capitalization of $22.13 billion, a price-to-earnings ratio of -12.78 and a beta of 1.28.

Insider Transactions at BioNTech

In other news, CEO Ugur Sahin sold 72,000 shares of the firm's stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $97.23, for a total transaction of $7,000,560.00. Following the completion of the transaction, the chief executive officer owned 108,209 shares in the company, valued at approximately $10,521,161.07. This trade represents a 39.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 807,209 shares of company stock worth $79,246,837 over the last quarter. 19.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BioNTech

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in shares of BioNTech in the 2nd quarter worth $39,000. Farther Finance Advisors LLC increased its holdings in BioNTech by 31.5% in the third quarter. Farther Finance Advisors LLC now owns 493 shares of the company's stock valued at $48,000 after purchasing an additional 118 shares during the last quarter. Parallel Advisors LLC increased its holdings in BioNTech by 50.3% in the third quarter. Parallel Advisors LLC now owns 843 shares of the company's stock valued at $83,000 after purchasing an additional 282 shares during the last quarter. Quintet Private Bank Europe S.A. increased its holdings in BioNTech by 232.8% in the third quarter. Quintet Private Bank Europe S.A. now owns 1,917 shares of the company's stock valued at $188,000 after purchasing an additional 1,341 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in BioNTech in the first quarter valued at about $220,000. 15.52% of the stock is owned by institutional investors and hedge funds.

About BioNTech

BioNTech SE is a biotechnology company based in Mainz, Germany. Founded in 2008, it develops medicines and vaccines, with a focus on immunotherapies for cancer and infectious diseases.

The company's research uses technologies including messenger RNA (mRNA), antibodies, and cell-based therapies. Its best-known product is Comirnaty, an mRNA vaccine against COVID-19 developed and commercialized in partnership with Pfizer. BioNTech also has a broad oncology research and development portfolio.

BioNTech works with partners to develop and distribute products internationally.

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