BioNTech (NASDAQ:BNTX) CEO Sells $3,520,080.00 in Stock

Key Points

• BioNTech CEO Ugur Sahin sold 36,000 shares at an average price of $97.78, generating $3.52 million. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan, reducing his holdings by 4.83% to 708,709 shares.
• Sahin has also sold shares in three earlier transactions, bringing his recent sales to 149,500 shares worth approximately $11.56 million.
• BioNTech recently reported a quarterly loss of $2.53 per share and revenue of $122.31 million, both worse than analyst expectations. Despite a “Moderate Buy” consensus and a $126 average price target, BMO Capital Markets downgraded the stock to “Market Perform.”

BioNTech SE Sponsored ADR (NASDAQ:BNTX - Get Free Report) CEO Ugur Sahin sold 36,000 shares of the firm's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $97.78, for a total value of $3,520,080.00. Following the completion of the transaction, the chief executive officer owned 708,709 shares of the company's stock, valued at approximately $69,297,566.02. This represents a 4.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ugur Sahin also recently made the following trade(s):

• On Tuesday, September 8th, Ugur Sahin sold 37,000 shares of BioNTech stock. The stock was sold at an average price of $99.20, for a total transaction of $3,670,400.00.
• On Friday, September 4th, Ugur Sahin sold 31,500 shares of BioNTech stock. The shares were sold at an average price of $103.52, for a total transaction of $3,260,880.00.
• On Thursday, September 3rd, Ugur Sahin sold 45,000 shares of BioNTech stock. The shares were sold at an average price of $102.85, for a total transaction of $4,628,250.00.

BioNTech Price Performance

NASDAQ BNTX traded down $0.53 on Wednesday, hitting $98.13. The stock had a trading volume of 706,871 shares, compared to its average volume of 1,112,188. BioNTech SE Sponsored ADR has a 52-week low of $79.52 and a 52-week high of $124.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.80 and a current ratio of 7.85. The company has a market capitalization of $24.82 billion, a price-to-earnings ratio of -12.53 and a beta of 1.29. The firm has a 50-day moving average of $96.94 and a 200-day moving average of $95.55.

BioNTech (NASDAQ:BNTX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($2.53) EPS for the quarter, missing the consensus estimate of ($2.40) by ($0.13). The firm had revenue of $122.31 million during the quarter, compared to the consensus estimate of $180.18 million. BioNTech had a negative net margin of 63.54% and a negative return on equity of 6.86%. The firm's revenue for the quarter was down 59.5% on a year-over-year basis. During the same period in the previous year, the business earned ($1.60) earnings per share. Equities analysts expect that BioNTech SE Sponsored ADR will post -6.33 EPS for the current year.

Hedge Funds Weigh In On BioNTech

Institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC lifted its stake in BioNTech by 86.4% in the fourth quarter. Larson Financial Group LLC now owns 274 shares of the company's stock worth $26,000 after purchasing an additional 127 shares during the last quarter. Kennedy Capital Management LLC grew its stake in shares of BioNTech by 0.6% during the fourth quarter. Kennedy Capital Management LLC now owns 21,065 shares of the company's stock valued at $2,005,000 after buying an additional 134 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of BioNTech by 4.0% during the third quarter. Mackenzie Financial Corp now owns 4,290 shares of the company's stock valued at $418,000 after buying an additional 165 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of BioNTech by 520.0% in 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 during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of BioNTech by 1.0% in the second quarter. Ameriprise Financial Inc. now owns 28,815 shares of the company's stock worth $3,068,000 after buying an additional 289 shares during the period. Institutional investors own 15.52% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets cut BioNTech from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $128.00 to $105.00 in a research report on Tuesday. Jefferies Financial Group reaffirmed a "buy" rating on shares of BioNTech in a report on Monday, June 1st. UBS Group upgraded BioNTech from a "neutral" rating to a "buy" rating and lifted their price target for the company from $117.00 to $135.00 in a research report on Wednesday, May 27th. Citigroup cut their price objective on BioNTech from $130.00 to $125.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group decreased their price objective on shares of BioNTech from $142.00 to $136.00 and set a "buy" rating on the stock in a research report on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $126.00.

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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