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 lessened its holdings in shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,046,425 shares of the company's stock after selling 249,392 shares during the quarter. Primecap Management Co. CA owned approximately 1.69% of BioNTech worth $368,467,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC acquired a new position in shares of BioNTech during the first quarter worth approximately $288,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of BioNTech during the fourth quarter worth $238,000. GAMMA Investing LLC grew its holdings in shares of BioNTech by 5,710.8% during the first quarter. GAMMA Investing LLC now owns 53,634 shares of the company's stock worth $4,884,000 after purchasing an additional 52,711 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in BioNTech by 44.3% in the first quarter. Allianz Asset Management GmbH now owns 120,680 shares of the company's stock valued at $10,989,000 after acquiring an additional 37,075 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in BioNTech by 4.9% in the fourth quarter. LPL Financial LLC now owns 38,860 shares of the company's stock valued at $4,428,000 after acquiring an additional 1,800 shares during the last quarter. Institutional investors own 15.52% of the company's stock.

BioNTech Stock Up 0.3%

Shares of BNTX stock traded up $0.31 during midday trading on Friday, reaching $111.66. 530,256 shares of the stock were exchanged, compared to its average volume of 709,340. BioNTech SE Sponsored ADR has a 1 year low of $79.14 and a 1 year high of $131.49. The company's 50 day moving average is $109.40 and its two-hundred day moving average is $106.13. The company has a current ratio of 8.61, a quick ratio of 10.02 and a debt-to-equity ratio of 0.01. The firm has a market cap of $26.84 billion, a PE ratio of -69.79 and a beta of 1.23.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup reissued a "buy" rating and issued a $140.00 target price (down previously from $145.00) on shares of BioNTech in a research note on Tuesday, May 6th. Morgan Stanley lifted their target price on BioNTech from $132.00 to $133.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. The Goldman Sachs Group began coverage on BioNTech in a report on Thursday, May 29th. They set a "neutral" rating and a $110.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and issued a $138.00 price objective on shares of BioNTech in a report on Wednesday, June 25th. Finally, Wall Street Zen raised BioNTech from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.