Allianz Asset Management GmbH Raises Stake in BioNTech SE Sponsored ADR (NASDAQ:BNTX)

Key Points

• Allianz Asset Management GmbH has increased its stake in BioNTech by 44.3% to a total of 120,680 shares, reaching a value of approximately $10.99 million by the end of the last quarter.
• Several institutional investors have significantly increased their holdings in BioNTech, with Bank of New York Mellon Corp raising its stake by 18,892.9%, now owning 698,368 shares worth about $63.59 million.
• Analyst ratings for BioNTech include a "buy" from Citigroup with a price target of $140.00 and a consensus rating of "Moderate Buy" with an average price target of $136.58 across various analysts.

Allianz Asset Management GmbH boosted its holdings in shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,680 shares of the company's stock after acquiring an additional 37,075 shares during the period. Allianz Asset Management GmbH owned 0.05% of BioNTech worth $10,989,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of BioNTech by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,677 shares of the company's stock valued at $419,000 after buying an additional 150 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in BioNTech during the first quarter worth $288,000. Raymond James Financial Inc. purchased a new stake in BioNTech in the fourth quarter valued at $584,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of BioNTech in the 4th quarter valued at $238,000. Finally, GAMMA Investing LLC grew its holdings in shares of BioNTech by 5,710.8% during the 1st quarter. GAMMA Investing LLC now owns 53,634 shares of the company's stock worth $4,884,000 after purchasing an additional 52,711 shares during the period. Institutional investors and hedge funds own 15.52% of the company's stock.

BioNTech Stock Performance

Shares of NASDAQ BNTX traded down $2.52 during trading hours on Monday, reaching $112.79. The stock had a trading volume of 801,836 shares, compared to its average volume of 957,192. The firm has a market cap of $27.11 billion, a price-to-earnings ratio of -33.17 and a beta of 1.29. BioNTech SE Sponsored ADR has a fifty-two week low of $76.53 and a fifty-two week high of $131.49. The firm has a 50-day moving average of $107.05 and a 200-day moving average of $106.36. The company has a current ratio of 10.18, a quick ratio of 10.02 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

Several analysts recently issued reports on BNTX shares. Morgan Stanley boosted their price objective on shares of BioNTech from $132.00 to $133.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. The Goldman Sachs Group assumed coverage on shares of BioNTech in a research report on Thursday, May 29th. They set a "neutral" rating and a $110.00 price objective for the company. Leerink Partners set a $112.00 target price on shares of BioNTech in a report on Monday, June 2nd. JPMorgan Chase & Co. decreased their price target on BioNTech from $120.00 to $116.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, Bank of America dropped their price objective on BioNTech from $127.00 to $126.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, BioNTech currently has a consensus rating of "Moderate Buy" and an average target price of $136.58.

BioNTech 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.