BioNTech (NASDAQ:BNTX) Shares Gap Up - Here's What Happened

BioNTech SE (NASDAQ:BNTX - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $95.81, but opened at $106.66. BioNTech shares last traded at $112.22, with a volume of 1,435,202 shares changing hands.

Analyst Upgrades and Downgrades

BNTX has been the topic of several recent analyst reports. BMO Capital Markets upped their price objective on shares of BioNTech from $130.00 to $143.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. Canaccord Genuity Group restated a "buy" rating and set a $171.44 price objective on shares of BioNTech in a report on Tuesday, March 11th. JPMorgan Chase & Co. cut their price objective on shares of BioNTech from $120.00 to $116.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Morgan Stanley cut their price objective on shares of BioNTech from $140.00 to $132.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Wall Street Zen downgraded shares of BioNTech from a "hold" rating to a "sell" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus 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 fifty day moving average is $98.51 and its 200-day moving average is $108.28. The stock has a market cap of $26.72 billion, a PE ratio of -52.92 and a beta of 1.29.

BioNTech (NASDAQ:BNTX - Get Free Report) last announced its quarterly earnings data on Monday, March 10th. The company reported $1.08 earnings per share (EPS) for the quarter, beating 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%. BioNTech's quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 earnings per share. As a group, equities analysts anticipate that BioNTech SE will post -3.88 EPS for the current year.

Hedge Funds Weigh In On BioNTech

Several institutional investors have recently bought and sold shares of BNTX. 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 valued at $877,583,000 after acquiring 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 valued at $63,593,000 after buying an additional 694,691 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of BioNTech in the 4th quarter valued at about $69,999,000. Invesco Ltd. boosted its stake in shares of BioNTech by 643.7% in the 1st quarter. Invesco Ltd. now owns 645,142 shares of the company's stock valued at $58,747,000 after buying an additional 558,389 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of BioNTech by 632.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 501,897 shares of the company's stock valued at $57,191,000 after buying an additional 433,388 shares during the period. 15.52% of the stock is owned by institutional investors and hedge funds.

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.