BioNTech (NASDAQ:BNTX) Shares Gap Down - Here's Why

BioNTech SE (NASDAQ:BNTX - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $100.25, but opened at $96.49. BioNTech shares last traded at $94.43, with a volume of 201,480 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen downgraded BioNTech from a "hold" rating to a "sell" rating in a report on Friday. Canaccord Genuity Group restated a "buy" rating and set a $171.44 price objective on shares of BioNTech in a research report on Tuesday, March 11th. BMO Capital Markets lifted their price objective on BioNTech from $130.00 to $143.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. HC Wainwright reissued a "buy" rating and set a $134.00 target price on shares of BioNTech in a research note on Thursday, May 22nd. Finally, Citigroup reissued a "buy" rating and issued a $140.00 price objective (down from $145.00) on shares of BioNTech in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.14.

BioNTech Price Performance

The stock has a market capitalization of $23.01 billion, a P/E ratio of -45.58 and a beta of 1.35. The business's 50 day simple moving average is $97.44 and its two-hundred day simple moving average is $108.08. The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01.

BioNTech (NASDAQ:BNTX - Get Free Report) last posted 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 company had revenue of $1.19 billion for 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 firm's revenue was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 EPS. As a group, sell-side analysts forecast that BioNTech SE will post -3.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioNTech

Several institutional investors have recently bought and sold shares of the stock. FMR LLC grew its position in BioNTech by 22.2% in the 4th quarter. FMR LLC now owns 7,701,476 shares of the company's stock worth $877,583,000 after purchasing an additional 1,401,547 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of BioNTech by 18,892.9% in the 1st quarter. Bank of New York Mellon Corp now owns 698,368 shares of the company's stock worth $63,593,000 after buying an additional 694,691 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of BioNTech in the fourth quarter valued at approximately $69,999,000. Invesco Ltd. increased its position in shares of BioNTech by 643.7% during the first quarter. Invesco Ltd. now owns 645,142 shares of the company's stock valued at $58,747,000 after acquiring an additional 558,389 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in BioNTech by 632.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 501,897 shares of the company's stock worth $57,191,000 after acquiring an additional 433,388 shares during the period. 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.