BioNTech (NASDAQ:BNTX) Hits New 1-Year Low - Here's What Happened

Key Points

• 52-week low: BioNTech shares hit a new 52-week low in mid-day trading, falling as low as $79.52 and last trading around $81.46 on volume of ~4.31 million shares, down from a prior close of $102.16.
• Analyst sentiment: Despite the drop, the consensus is a Moderate Buy (11 Buys, 4 Holds, 1 Sell) with an average price target of $140.10.
• Key fundamentals: The company has a market cap of $18.15 billion, a negative trailing P/E (−30.92), very low debt (debt/equity 0.01) and strong liquidity (current ratio 7.12), while the 50- and 200-day moving averages (~$106.95 and $103.02) remain well above the current price.

BioNTech SE Sponsored ADR (NASDAQ:BNTX - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $79.52 and last traded at $81.4570, with a volume of 4313149 shares changing hands. The stock had previously closed at $102.16.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BNTX. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BioNTech in a research note on Friday, January 9th. HC Wainwright reaffirmed a "buy" rating and set a $140.00 price target on shares of BioNTech in a report on Thursday, December 11th. Jefferies Financial Group reaffirmed a "buy" rating and set a $151.00 price target on shares of BioNTech in a research report on Wednesday, December 3rd. UBS Group raised shares of BioNTech to a "hold" rating in a report on Thursday, December 4th. Finally, Berenberg Bank reissued a "buy" rating on shares of BioNTech in a research note on Friday, January 23rd. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $140.10.

BioNTech Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 7.12 and a quick ratio of 7.02. The stock has a market cap of $18.15 billion, a price-to-earnings ratio of -30.92 and a beta of 1.51. The firm has a fifty day moving average of $106.95 and a 200 day moving average of $103.02.

Hedge Funds Weigh In On BioNTech

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of BioNTech by 95.9% in the 1st quarter. Royal Bank of Canada now owns 7,177 shares of the company's stock valued at $653,000 after buying an additional 3,514 shares during the period. NewEdge Advisors LLC acquired a new position in shares of BioNTech in the first quarter worth $167,000. Envestnet Asset Management Inc. lifted its holdings in BioNTech by 20.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,570 shares of the company's stock valued at $1,125,000 after purchasing an additional 1,808 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in BioNTech during the second quarter worth approximately $303,000. Finally, Profund Advisors LLC grew its holdings in BioNTech by 3.6% in the second quarter. Profund Advisors LLC now owns 4,309 shares of the company's stock valued at $459,000 after purchasing an additional 149 shares during the period. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

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.

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