Amova Asset Management Americas Inc. Invests $6.91 Million in BioNTech SE Sponsored ADR $BNTX

Key Points

• Amova Asset Management Americas opened a new position in BioNTech, buying 77,694 shares valued at about $6.91 million in the first quarter.
• BioNTech recently reported a smaller-than-expected loss, posting EPS of -$2.26 versus estimates of -$2.52, but quarterly revenue of $136.7 million came in below analyst expectations and fell 35.4% year over year.
• The company’s board authorized a $1 billion share buyback, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $129.12.

Amova Asset Management Americas Inc. acquired a new position in shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 77,694 shares of the company's stock, valued at approximately $6,905,000.

A number of other large investors have also recently made changes to their positions in the stock. GSK plc acquired a new stake in shares of BioNTech during the 4th quarter worth approximately $84,711,000. BNP Paribas Financial Markets lifted its stake in shares of BioNTech by 43.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,578,094 shares of the company's stock valued at $150,235,000 after purchasing an additional 474,796 shares during the period. Bank of America Corp DE boosted its holdings in BioNTech by 344.4% during the third quarter. Bank of America Corp DE now owns 573,356 shares of the company's stock worth $56,544,000 after buying an additional 444,332 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in BioNTech during the fourth quarter valued at $41,656,000. Finally, Davern Capital Partners LP acquired a new stake in BioNTech during the fourth quarter valued at $35,340,000. 15.52% of the stock is owned by hedge funds and other institutional investors.

BioNTech Trading Up 0.7%

Shares of BNTX opened at $92.16 on Tuesday. BioNTech SE Sponsored ADR has a 52-week low of $79.52 and a 52-week high of $124.00. The stock has a market cap of $23.31 billion, a PE ratio of -15.67 and a beta of 1.32. The firm's fifty day moving average is $91.32 and its two-hundred day moving average is $97.81. The company has a quick ratio of 8.74, a current ratio of 8.80 and a debt-to-equity ratio of 0.01.

BioNTech (NASDAQ:BNTX - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported ($2.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.52) by $0.26. BioNTech had a negative return on equity of 5.30% and a negative net margin of 44.39%.The company had revenue of $136.71 million during the quarter, compared to analysts' expectations of $207.42 million. During the same period in the prior year, the business earned ($1.73) EPS. The firm's quarterly revenue was down 35.4% on a year-over-year basis. Research analysts forecast that BioNTech SE Sponsored ADR will post -5.79 earnings per share for the current fiscal year.

BioNTech announced that its board has initiated a stock buyback plan on Thursday, May 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have commented on BNTX shares. Wells Fargo & Company dropped their price objective on BioNTech from $150.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. UBS Group raised BioNTech from a "neutral" rating to a "buy" rating and upped their target price for the stock from $117.00 to $135.00 in a research note on Wednesday, May 27th. Truist Financial upgraded BioNTech to a "strong-buy" rating in a research report on Wednesday, March 25th. Morgan Stanley dropped their price target on shares of BioNTech from $126.00 to $119.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 8th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of BioNTech in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.12.

Insider Activity at BioNTech

In other news, COO Sierk Poetting sold 50,000 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $110.56, for a total transaction of $5,528,000.00. Following the completion of the transaction, the chief operating officer directly owned 399,387 shares in the company, valued at approximately $44,156,226.72. This represents a 11.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.20% of the company's stock.

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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