Fred Alger Management LLC Sells 35,467 Shares of BioNTech SE (NASDAQ:BNTX)

Fred Alger Management LLC reduced its stake in shares of BioNTech SE (NASDAQ:BNTX - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 465,377 shares of the company's stock after selling 35,467 shares during the quarter. Fred Alger Management LLC owned about 0.19% of BioNTech worth $53,030,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. SG Americas Securities LLC raised its position in shares of BioNTech by 412.3% during the fourth quarter. SG Americas Securities LLC now owns 41,470 shares of the company's stock worth $4,726,000 after purchasing an additional 33,375 shares during the period. Mirabaud & Cie SA acquired a new stake in BioNTech in the 4th quarter worth approximately $684,000. Bank of New York Mellon Corp boosted its position in BioNTech by 4.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,677 shares of the company's stock worth $419,000 after purchasing an additional 150 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in BioNTech during the 4th quarter worth $1,118,000. Finally, Van ECK Associates Corp grew its position in BioNTech by 25.1% in the 4th quarter. Van ECK Associates Corp now owns 118,418 shares of the company's stock worth $13,493,000 after purchasing an additional 23,733 shares during the last quarter. Institutional investors and hedge funds own 15.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BNTX. Canaccord Genuity Group reiterated a "buy" rating and set a $171.44 price objective on shares of BioNTech in a research note on Tuesday, March 11th. Citigroup reissued a "buy" rating and set a $140.00 price objective (down previously from $145.00) on shares of BioNTech in a research note on Tuesday, May 6th. HC Wainwright lowered their price target on BioNTech from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. BMO Capital Markets increased their price objective on shares of BioNTech from $130.00 to $143.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley lowered their target price on shares of BioNTech from $140.00 to $132.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $142.73.

BioNTech Trading Down 2.1 %

BNTX traded down $2.01 during mid-day trading on Friday, hitting $92.77. 607,283 shares of the stock were exchanged, compared to its average volume of 923,314. The company has a market cap of $22.26 billion, a PE ratio of -44.18 and a beta of 1.35. The firm's fifty day moving average is $98.79 and its two-hundred day moving average is $109.50. BioNTech SE has a 1-year low of $76.53 and a 1-year high of $131.49. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01.

BioNTech (NASDAQ:BNTX - Get Free Report) last issued its earnings results on Monday, March 10th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.70. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.24 billion. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The firm's revenue for the quarter was down 19.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. Equities analysts forecast that BioNTech SE will post -3.88 earnings per share 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.