Bank of New York Mellon Corp Trims Stock Position in BioNTech SE Sponsored ADR $BNTX

Key Points

• Bank of New York Mellon cut its BioNTech stake by 64.6% in the first quarter, selling 73,978 shares and retaining 40,483 shares valued at approximately $3.6 million. Institutional investors and hedge funds collectively own 15.52% of BNTX.
• BioNTech reported a quarterly loss of $2.26 per share, better than estimates, but revenue of $136.7 million fell short of expectations and declined 35.4% year over year. Analysts expect a full-year loss of approximately $5.70 per share.
• The company authorized a $1 billion share-repurchase program, covering up to 4.2% of outstanding shares. Despite mixed analyst views, BioNTech has a “Moderate Buy” consensus rating and an average price target of $127.81.

Bank of New York Mellon Corp lowered its holdings in BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) by 64.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,483 shares of the company's stock after selling 73,978 shares during the period. Bank of New York Mellon Corp's holdings in BioNTech were worth $3,598,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BNTX. Larson Financial Group LLC raised its stake in BioNTech by 86.4% during the 4th quarter. Larson Financial Group LLC now owns 274 shares of the company's stock worth $26,000 after acquiring an additional 127 shares in the last quarter. EFG International AG purchased a new stake in shares of BioNTech in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of BioNTech by 520.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company's stock valued at $30,000 after purchasing an additional 260 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of BioNTech by 118.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 563 shares of the company's stock valued at $60,000 after purchasing an additional 305 shares during the period. Finally, Vestcor Inc acquired a new stake in shares of BioNTech in the 4th quarter valued at about $153,000. 15.52% of the stock is currently owned by institutional investors and hedge funds.

BioNTech Trading Up 2.7%

NASDAQ BNTX opened at $93.67 on Friday. The firm's 50 day moving average price is $91.36 and its two-hundred day moving average price is $96.93. The stock has a market cap of $23.69 billion, a price-to-earnings ratio of -11.96 and a beta of 1.27. BioNTech SE Sponsored ADR has a twelve month low of $79.52 and a twelve month high of $124.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.74 and a current ratio of 7.85.

BioNTech (NASDAQ:BNTX - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported ($2.26) EPS for the quarter, topping the consensus estimate of ($2.52) by $0.26. The company had revenue of $136.71 million for the quarter, compared to the consensus estimate of $207.42 million. BioNTech had a negative return on equity of 6.86% and a negative net margin of 63.54%.The company's revenue for the quarter was down 35.4% on a year-over-year basis. During the same period in the previous year, the business posted ($1.73) EPS. Equities analysts anticipate that BioNTech SE Sponsored ADR will post -5.7 EPS for the current year.

BioNTech declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group set a $142.00 price objective on shares of BioNTech in a research report on Wednesday. Wall Street Zen downgraded shares of BioNTech from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BioNTech in a report on Monday, July 6th. Sanford C. Bernstein reissued a "market perform" rating on shares of BioNTech in a report on Friday, June 5th. Finally, Citigroup reduced their price objective on shares of BioNTech from $130.00 to $125.00 and set a "buy" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, BioNTech currently has an average rating of "Moderate Buy" and an average price target of $127.81.

About BioNTech

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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