Bank of America Corp DE Raises Stake in BioNTech SE Sponsored ADR $BNTX

Key Points

• Bank of America increased its BioNTech stake by 22.6% in the first quarter, purchasing 166,432 additional shares to own 903,029 shares valued at approximately $80.3 million.
• Other institutional investors also raised their holdings, and institutional ownership of BioNTech stands at 15.52%. The company separately authorized a $1 billion share repurchase program, covering up to 4.2% of outstanding shares.
• BioNTech shares opened at $93.67, while analysts maintained an overall “Moderate Buy” consensus with an average price target of $127.81.

Bank of America Corp DE increased its stake in shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) by 22.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 903,029 shares of the company's stock after buying an additional 166,432 shares during the period. Bank of America Corp DE owned about 0.36% of BioNTech worth $80,261,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in BioNTech by 43.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,578,094 shares of the company's stock worth $150,235,000 after buying an additional 474,796 shares during the last quarter. GSK plc purchased a new stake in BioNTech during the fourth quarter valued at about $84,711,000. First Trust Advisors LP boosted its position in BioNTech by 116.0% during the first quarter. First Trust Advisors LP now owns 839,991 shares of the company's stock worth $74,658,000 after purchasing an additional 451,124 shares during the period. Morgan Stanley boosted its position in BioNTech by 12.9% during the fourth quarter. Morgan Stanley now owns 680,669 shares of the company's stock worth $64,800,000 after purchasing an additional 77,653 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of BioNTech by 2.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 492,045 shares of the company's stock worth $52,416,000 after purchasing an additional 13,788 shares in the last quarter. Institutional investors own 15.52% of the company's stock.

BioNTech Stock Performance

Shares of BioNTech stock opened at $93.67 on Monday. The company's 50-day moving average price is $91.36 and its 200-day moving average price is $96.84. The company has a current ratio of 7.85, a quick ratio of 7.80 and a debt-to-equity ratio of 0.01. BioNTech SE Sponsored ADR has a 12-month low of $79.52 and a 12-month high of $124.00. The company has a market cap of $23.69 billion, a price-to-earnings ratio of -11.96 and a beta of 1.27.

BioNTech declared that its Board of Directors has approved a stock buyback plan on Thursday, May 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Sanford C. Bernstein reissued a "market perform" rating on shares of BioNTech in a research report on Friday, June 5th. Canaccord Genuity Group set a $142.00 price objective on shares of BioNTech in a report on Wednesday. Jefferies Financial Group reiterated a "buy" rating on shares of BioNTech in a research note on Monday, June 1st. Wells Fargo & Company lowered their target price on shares of BioNTech from $150.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Finally, Citigroup dropped their target price on BioNTech from $130.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, BioNTech presently has an average rating of "Moderate Buy" and a consensus target price of $127.81.

BioNTech 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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