Fred Alger Management LLC Sells 403,447 Shares of BioNTech SE Sponsored ADR $BNTX

Key Points

• Fred Alger Management LLC significantly reduced its stake in BioNTech SE by 86.7%, selling 403,447 shares and retaining just 61,930 shares valued at approximately $5.6 million.
• Equity analysts have varying target prices for BioNTech, with recommendations ranging from $112.00 to $155.00, reflecting a consensus rating of "Moderate Buy".
• BioNTech reported a challenging quarter with a loss of ($1.60) EPS, missing estimates, but achieved a significant revenue increase of 102.6% year-over-year.

Fred Alger Management LLC reduced its stake in BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) by 86.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,930 shares of the company's stock after selling 403,447 shares during the quarter. Fred Alger Management LLC's holdings in BioNTech were worth $5,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BNTX. Baird Financial Group Inc. raised its stake in shares of BioNTech by 14.2% during the fourth quarter. Baird Financial Group Inc. now owns 18,589 shares of the company's stock worth $2,118,000 after acquiring an additional 2,307 shares in the last quarter. Deutsche Bank AG boosted its holdings in BioNTech by 2.3% in the fourth quarter. Deutsche Bank AG now owns 304,500 shares of the company's stock valued at $34,698,000 after acquiring an additional 6,749 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of BioNTech during the 4th quarter valued at $570,000. Integral Health Asset Management LLC boosted its holdings in shares of BioNTech by 100.0% during the 4th quarter. Integral Health Asset Management LLC now owns 100,000 shares of the company's stock valued at $11,395,000 after buying an additional 50,000 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of BioNTech during the 4th quarter valued at $1,014,000. 15.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BNTX has been the subject of several recent analyst reports. Leerink Partners set a $112.00 price target on BioNTech in a research report on Monday, June 2nd. HC Wainwright reissued a "buy" rating and issued a $136.00 target price on shares of BioNTech in a research report on Monday, September 8th. Wells Fargo & Company set a $150.00 target price on BioNTech and gave the stock an "overweight" rating in a research report on Tuesday, August 5th. Morgan Stanley boosted their target price on BioNTech from $132.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Bank of America boosted their target price on BioNTech from $126.00 to $134.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $135.80.

BioNTech Stock Performance

Shares of BioNTech stock traded down $7.57 during trading hours on Friday, reaching $96.74. 5,152,296 shares of the stock traded hands, compared to its average volume of 1,107,423. The company has a 50 day moving average price of $108.79 and a 200 day moving average price of $103.88. The firm has a market capitalization of $23.26 billion, a price-to-earnings ratio of -60.46 and a beta of 1.39. BioNTech SE Sponsored ADR has a one year low of $81.20 and a one year high of $131.49. The company has a quick ratio of 8.48, a current ratio of 8.61 and a debt-to-equity ratio of 0.01.

BioNTech (NASDAQ:BNTX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.19). The company had revenue of $306.46 million for the quarter, compared to the consensus estimate of $161.26 million. BioNTech had a negative net margin of 12.20% and a negative return on equity of 1.84%. The company's revenue was up 102.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($3.36) earnings per share. BioNTech has set its FY 2025 guidance at EPS. On average, equities research analysts expect that BioNTech SE Sponsored ADR will post -3.88 earnings per share for the current fiscal year.

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.