BioNTech SE Sponsored ADR $BNTX Shares Sold by Carmignac Gestion

Key Points

• Carmignac Gestion cut its BioNTech stake by 21.8% in the first quarter, selling 31,376 shares and retaining 112,711 shares valued at approximately $9.96 million.
• 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.
• The company authorized a $1 billion share-repurchase program, while analysts maintained a “Moderate Buy” consensus with an average price target of $129.12 versus the stock’s reported $90.58 price.

Carmignac Gestion cut its stake in shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) by 21.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,711 shares of the company's stock after selling 31,376 shares during the quarter. Carmignac Gestion's holdings in BioNTech were worth $9,956,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in BioNTech by 43.0% during 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 increased its position in BioNTech by 22.6% in the first quarter. Bank of America Corp DE now owns 903,029 shares of the company's stock worth $80,261,000 after buying an additional 166,432 shares during the period. GSK plc bought a new stake in BioNTech in the fourth quarter valued at $84,711,000. First Trust Advisors LP lifted its stake in BioNTech by 116.0% in the first quarter. First Trust Advisors LP now owns 839,991 shares of the company's stock valued at $74,658,000 after buying an additional 451,124 shares during the last quarter. Finally, Morgan Stanley lifted its stake in BioNTech by 12.9% in the fourth quarter. Morgan Stanley now owns 680,669 shares of the company's stock valued at $64,800,000 after buying an additional 77,653 shares during the last quarter. 15.52% of the stock is currently owned by institutional investors and hedge funds.

BioNTech Stock Performance

BNTX stock opened at $90.58 on Monday. The company has a 50-day simple moving average of $91.48 and a 200 day simple moving average of $97.40. The company has a market capitalization of $22.91 billion, a P/E ratio of -15.40 and a beta of 1.27. 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 SE Sponsored ADR has a fifty-two week low of $79.52 and a fifty-two week high of $124.00.

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

BioNTech announced that its board has authorized a share repurchase program on Thursday, May 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BNTX has been the subject of several recent research reports. HC Wainwright restated a "buy" rating and set a $130.00 price target on shares of BioNTech in a research report on Monday, April 27th. Jefferies Financial Group reissued a "buy" rating on shares of BioNTech in a research note on Monday, June 1st. Weiss Ratings restated a "sell (d-)" rating on shares of BioNTech in a research report on Monday, July 6th. Wall Street Zen upgraded shares of BioNTech from a "sell" rating to a "hold" rating in a research note on Saturday, July 18th. Finally, Morgan Stanley reduced their price objective on BioNTech from $126.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. One investment 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 assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $129.12.

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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