Pictet Asset Management Holding SA Boosts Stake in BioNTech SE Sponsored ADR $BNTX

Key Points

• Pictet Asset Management Holding SA increased its BioNTech stake by 48.4% in the first quarter, adding 42,960 shares to bring its total to 131,798 shares worth about $11.2 million.
• Several other institutional investors also adjusted positions in BioNTech, and hedge funds and other institutions now own 15.52% of the stock.
• Analysts remain broadly positive on BNTX, with an average rating of “Moderate Buy” and a consensus price target of $129.56; BioNTech also recently authorized a $1 billion share buyback.

Pictet Asset Management Holding SA grew its holdings in shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) by 48.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,798 shares of the company's stock after acquiring an additional 42,960 shares during the period. Pictet Asset Management Holding SA owned about 0.05% of BioNTech worth $11,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Larson Financial Group LLC boosted its holdings in BioNTech by 86.4% in the fourth quarter. Larson Financial Group LLC now owns 274 shares of the company's stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. EFG International AG acquired a new stake in shares of BioNTech during the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its position in shares of BioNTech by 520.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company's stock worth $30,000 after buying an additional 260 shares in the last quarter. Huntington National Bank increased its stake in shares of BioNTech by 1,266.7% in the third quarter. Huntington National Bank now owns 410 shares of the company's stock worth $40,000 after buying an additional 380 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of BioNTech by 118.2% in the second quarter. Tower Research Capital LLC TRC now owns 563 shares of the company's stock worth $60,000 after buying an additional 305 shares during the last quarter. 15.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on BNTX. The Goldman Sachs Group reiterated a "buy" rating on shares of BioNTech in a research note on Wednesday, March 11th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of BioNTech in a research report on Tuesday, March 17th. Raymond James Financial restated an "outperform" rating on shares of BioNTech in a research note on Tuesday, March 10th. Truist Financial raised shares of BioNTech to a "strong-buy" rating in a research report on Wednesday, March 25th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of BioNTech in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $129.56.

Insider Buying and Selling at BioNTech

In related news, COO Sierk Poetting sold 50,000 shares of the business's stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $110.56, for a total transaction of $5,528,000.00. Following the completion of the sale, the chief operating officer owned 399,387 shares of the company's stock, valued at $44,156,226.72. This represents a 11.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 19.20% of the stock is currently owned by corporate insiders.

BioNTech Stock Performance

BioNTech stock opened at $97.54 on Friday. The company has a market cap of $24.67 billion, a PE ratio of -16.59 and a beta of 1.32. The company has a fifty day moving average price of $92.87 and a two-hundred day moving average price of $97.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.80 and a quick ratio of 8.74. BioNTech SE Sponsored ADR has a 12 month low of $79.52 and a 12 month high of $124.00.

BioNTech (NASDAQ:BNTX - Get Free Report) last released its earnings results on Saturday, February 14th. The company reported ($0.39) earnings per share for the quarter. BioNTech had a negative net margin of 44.39% and a negative return on equity of 5.30%. The business had revenue of $1.06 billion for the quarter. Research analysts expect that BioNTech SE Sponsored ADR will post -5.67 earnings per share for the current year.

BioNTech declared that its Board of Directors has approved a share buyback plan on Thursday, May 7th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

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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