TD Asset Management Inc Sells 32,530 Shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX)

Key Points

• TD Asset Management Inc significantly reduced its stake in BioNTech SE by 74% in the first quarter, selling over 32,000 shares and leaving them with a total of 11,452 shares valued at approximately $1.02 million.
• Despite the sell-off by TD Asset Management, several other institutional investors increased their holdings in BioNTech, with increases ranging from 7.1% to 34.2% among various firms.
• BioNTech reported a quarterly revenue of $306.46 million, exceeding analyst expectations, but it reported a loss of ($1.60) EPS, falling short of the anticipated ($1.41), indicating ongoing volatility in its earnings performance.

TD Asset Management Inc trimmed its holdings in shares of BioNTech SE Sponsored ADR (NASDAQ:BNTX - Free Report) by 74.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,452 shares of the company's stock after selling 32,530 shares during the period. TD Asset Management Inc's holdings in BioNTech were worth $1,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allianz Asset Management GmbH increased its stake in BioNTech by 44.3% in the 1st quarter. Allianz Asset Management GmbH now owns 120,680 shares of the company's stock valued at $10,989,000 after buying an additional 37,075 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of BioNTech by 34.2% in the 1st quarter. Kestra Private Wealth Services LLC now owns 2,659 shares of the company's stock valued at $242,000 after buying an additional 678 shares during the period. Whittier Trust Co. boosted its position in shares of BioNTech by 3,846.2% during the 1st quarter. Whittier Trust Co. now owns 2,052 shares of the company's stock worth $187,000 after purchasing an additional 2,000 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of BioNTech by 7.1% in the 1st quarter. SBI Securities Co. Ltd. now owns 3,673 shares of the company's stock worth $334,000 after acquiring an additional 244 shares during the period. Finally, Cerity Partners LLC purchased a new stake in shares of BioNTech in the 1st quarter worth about $357,000. 15.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BNTX shares. Bank of America upped their target price on shares of BioNTech from $126.00 to $134.00 and gave the company a "buy" rating in a report on Tuesday. Citigroup reiterated a "buy" rating and issued a $140.00 price target (down from $145.00) on shares of BioNTech in a report on Tuesday, May 6th. Leerink Partners set a $112.00 price objective on shares of BioNTech in a research report on Monday, June 2nd. JPMorgan Chase & Co. reduced their price objective on shares of BioNTech from $120.00 to $116.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, HC Wainwright restated a "buy" rating and set a $138.00 price objective on shares of BioNTech in a research note on Wednesday, June 25th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $135.91.

BioNTech Stock Up 0.2%

NASDAQ:BNTX traded up $0.23 on Wednesday, hitting $111.30. 1,181,001 shares of the company's stock traded hands, compared to its average volume of 953,518. The firm has a 50-day moving average price of $108.59 and a 200-day moving average price of $106.20. The company has a current ratio of 10.18, a quick ratio of 10.02 and a debt-to-equity ratio of 0.01. The company has a market cap of $26.76 billion, a PE ratio of -69.56 and a beta of 1.23. BioNTech SE Sponsored ADR has a 1 year low of $78.39 and a 1 year high of $131.49.

BioNTech (NASDAQ:BNTX - Get Free Report) last issued its 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 1.85%. The company had revenue of $306.46 million for the quarter, compared to analyst estimates of $161.26 million. During the same period last year, the business earned ($3.36) EPS. The company's quarterly revenue was up 102.6% on a year-over-year basis. Equities analysts anticipate that BioNTech SE Sponsored ADR will post -3.88 EPS for the current fiscal year.

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.