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 trimmed its holdings in shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) by 86.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,930 shares of the company's stock after selling 403,447 shares during the period. Fred Alger Management LLC's holdings in BioNTech were worth $5,639,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in shares of BioNTech by 94.6% during the first quarter. BNP Paribas Financial Markets now owns 1,195,470 shares of the company's stock worth $108,859,000 after purchasing an additional 581,173 shares during the period. Bank of New York Mellon Corp lifted its holdings in BioNTech by 18,892.9% in the first quarter. Bank of New York Mellon Corp now owns 698,368 shares of the company's stock worth $63,593,000 after buying an additional 694,691 shares during the period. Invesco Ltd. lifted its holdings in BioNTech by 643.7% in the first quarter. Invesco Ltd. now owns 645,142 shares of the company's stock worth $58,747,000 after buying an additional 558,389 shares during the period. Millennium Management LLC lifted its holdings in BioNTech by 252.5% in the first quarter. Millennium Management LLC now owns 544,970 shares of the company's stock worth $49,625,000 after buying an additional 390,360 shares during the period. Finally, LBP AM SA lifted its holdings in BioNTech by 20.7% in the first quarter. LBP AM SA now owns 305,221 shares of the company's stock worth $27,793,000 after buying an additional 52,303 shares during the period. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on BNTX. Truist Financial restated a "buy" rating and issued a $155.00 price objective (up from $151.00) on shares of BioNTech in a report on Tuesday, June 3rd. Morgan Stanley raised their price target on shares of BioNTech from $132.00 to $133.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wells Fargo & Company set a $150.00 target price on shares of BioNTech and gave the stock an "overweight" rating in a report on Tuesday, August 5th. Bank of America raised their target price on shares of BioNTech from $126.00 to $134.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, HC Wainwright reiterated a "buy" rating and set a $136.00 price target on shares of BioNTech in a research note on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, BioNTech currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.80.

BioNTech Price Performance

NASDAQ BNTX traded down $7.57 on Friday, reaching $96.74. The company had a trading volume of 5,152,296 shares, compared to its average volume of 961,438. The company has a quick ratio of 8.48, a current ratio of 8.61 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $23.26 billion, a PE ratio of -60.46 and a beta of 1.39. The firm's 50 day moving average price is $109.05 and its 200 day moving average price is $104.08. BioNTech SE Sponsored ADR has a 12 month low of $81.20 and a 12 month high of $131.49.

BioNTech (NASDAQ:BNTX - Get Free Report) last announced its quarterly earnings results 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). BioNTech had a negative net margin of 12.20% and a negative return on equity of 1.84%. The company had revenue of $306.46 million during the quarter, compared to the consensus estimate of $161.26 million. During the same quarter in the prior year, the firm posted ($3.36) earnings per share. The business's revenue was up 102.6% on a year-over-year basis. BioNTech has set its FY 2025 guidance at EPS. As a group, equities analysts predict that BioNTech SE Sponsored ADR will post -3.88 earnings per share for the current 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.