BioNTech (NASDAQ:BNTX) Sees Strong Trading Volume - Here's Why

BioNTech SE (NASDAQ:BNTX - Get Free Report) shares saw strong trading volume on Tuesday . 1,330,327 shares changed hands during mid-day trading, an increase of 43% from the previous session's volume of 930,600 shares.The stock last traded at $116.20 and had previously closed at $113.10.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on BioNTech from $120.00 to $116.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Truist Financial reaffirmed a "buy" rating and set a $155.00 price target (up from $151.00) on shares of BioNTech in a research note on Tuesday. Wall Street Zen lowered BioNTech from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Morgan Stanley dropped their price objective on BioNTech from $140.00 to $132.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, BMO Capital Markets raised their price objective on shares of BioNTech from $130.00 to $143.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $139.14.

BioNTech Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21. The stock's 50 day moving average price is $98.51 and its two-hundred day moving average price is $108.28. The firm has a market capitalization of $26.72 billion, a price-to-earnings ratio of -52.92 and a beta of 1.29.

BioNTech (NASDAQ:BNTX - Get Free Report) last released its earnings results on Monday, March 10th. The company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.70. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.24 billion. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The business's revenue was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. On average, equities research analysts anticipate that BioNTech SE will post -3.88 EPS for the current year.

Institutional Trading of BioNTech

Several hedge funds have recently added to or reduced their stakes in BNTX. abrdn plc lifted its holdings in shares of BioNTech by 70.7% during the fourth quarter. abrdn plc now owns 385,668 shares of the company's stock worth $43,947,000 after buying an additional 159,676 shares during the last quarter. Van ECK Associates Corp increased its position in BioNTech by 25.1% during the fourth quarter. Van ECK Associates Corp now owns 118,418 shares of the company's stock worth $13,493,000 after acquiring an additional 23,733 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in BioNTech during the 4th quarter valued at $1,118,000. Vontobel Holding Ltd. boosted its holdings in BioNTech by 24.6% in the 4th quarter. Vontobel Holding Ltd. now owns 21,385 shares of the company's stock valued at $2,437,000 after purchasing an additional 4,227 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in BioNTech in the 4th quarter worth $168,000. Institutional investors own 15.52% of the company's stock.

BioNTech Company Profile

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.