Primecap Management Co. CA Sells 249,392 Shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX)

Key Points

• Primecap Management Co. CA reduced its stake in BioNTech SE by 5.8%, now holding approximately 4 million shares valued at $368 million.
• Despite a revenue increase of 102.6% year-over-year, BioNTech reported a disappointing EPS of ($1.60), missing the consensus estimate.
• Analysts have mixed opinions on BioNTech's stock, with various firms setting price targets ranging from $110 to $155, while the average rating is "Moderate Buy."

Primecap Management Co. CA lowered its stake in BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) by 5.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,046,425 shares of the company's stock after selling 249,392 shares during the quarter. Primecap Management Co. CA owned about 1.69% of BioNTech worth $368,467,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC acquired a new stake in BioNTech during the 1st quarter worth $288,000. GAMMA Investing LLC raised its stake in BioNTech by 5,710.8% during the 1st quarter. GAMMA Investing LLC now owns 53,634 shares of the company's stock worth $4,884,000 after buying an additional 52,711 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in BioNTech during the 4th quarter worth $238,000. Allianz Asset Management GmbH raised its stake in BioNTech by 44.3% during the 1st quarter. Allianz Asset Management GmbH now owns 120,680 shares of the company's stock worth $10,989,000 after buying an additional 37,075 shares during the period. Finally, LPL Financial LLC raised its stake in BioNTech by 4.9% during the 4th quarter. LPL Financial LLC now owns 38,860 shares of the company's stock worth $4,428,000 after buying an additional 1,800 shares during the period. Institutional investors and hedge funds own 15.52% of the company's stock.

BioNTech Price Performance

Shares of NASDAQ BNTX traded up $0.31 during mid-day trading on Friday, hitting $111.66. The company had a trading volume of 530,256 shares, compared to its average volume of 709,340. The firm has a 50-day simple moving average of $109.08 and a two-hundred day simple moving average of $106.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.61 and a quick ratio of 10.02. BioNTech SE Sponsored ADR has a one year low of $79.14 and a one year high of $131.49.

BioNTech (NASDAQ:BNTX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported ($1.60) EPS for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.19). BioNTech had a negative return on equity of 1.84% and a negative net margin of 12.20%. The business had revenue of $306.46 million for the quarter, compared to the consensus estimate of $161.26 million. During the same quarter in the previous year, the business posted ($3.36) EPS. The company's revenue for the quarter was up 102.6% on a year-over-year basis. Sell-side analysts expect that BioNTech SE Sponsored ADR will post -3.88 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on BioNTech from $120.00 to $116.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Wall Street Zen upgraded BioNTech from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Leerink Partners set a $112.00 target price on BioNTech in a report on Monday, June 2nd. Morgan Stanley increased their target price on BioNTech from $132.00 to $133.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, The Goldman Sachs Group began coverage on BioNTech in a report on Thursday, May 29th. They set a "neutral" rating and a $110.00 target price for the company. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.91.

BioNTech Company 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.