BioNTech (NASDAQ:BNTX) Shares Gap Down - Should You Sell?

Key Points

• BioNTech shares fell 8.2%, opening at $102.34 versus the prior close of $111.40, before trading near $103.28.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $127.81, despite mixed revisions and one sell rating.
• The company missed quarterly expectations, reporting a loss of $2.53 per share and revenue of $122.31 million versus estimates of $180.18 million. BioNTech also approved a $1 billion share-repurchase program covering up to 4.2% of outstanding shares.

BioNTech SE Sponsored ADR (NASDAQ:BNTX - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $111.40, but opened at $102.34. BioNTech shares last traded at $103.28, with a volume of 1,295,818 shares changing hands.

Analysts Set New Price Targets

BNTX has been the topic of several recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of BioNTech in a report on Monday, July 6th. Morgan Stanley lowered their price target on shares of BioNTech from $126.00 to $119.00 and set an "overweight" rating for the company in a research report on Wednesday, July 8th. Canaccord Genuity Group set a $142.00 price objective on shares of BioNTech in a research note on Wednesday, August 5th. Jefferies Financial Group reissued a "buy" rating on shares of BioNTech in a research note on Monday, June 1st. Finally, Citigroup dropped 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.81.

BioNTech Stock Down 8.2%

The stock's fifty day moving average price is $95.17 and its 200-day moving average price is $95.85. The company has a quick ratio of 7.80, a current ratio of 7.85 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $25.85 billion, a price-to-earnings ratio of -13.06 and a beta of 1.27.

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

BioNTech declared that its board has approved a share repurchase program on Thursday, May 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Institutional Trading of BioNTech

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pictet Asset Management Holding SA raised its stake in BioNTech by 41.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 88,838 shares of the company's stock valued at $8,457,000 after acquiring an additional 26,119 shares during the period. Monaco Asset Management SAM acquired a new stake in BioNTech during the 4th quarter valued at $1,594,000. Hsbc Holdings PLC acquired a new position in shares of BioNTech in the fourth quarter valued at $4,969,000. Bank of America Corp DE raised its position in shares of BioNTech by 22.6% in the first quarter. Bank of America Corp DE now owns 903,029 shares of the company's stock valued at $80,261,000 after purchasing an additional 166,432 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of BioNTech by 43.0% during the 4th quarter. BNP Paribas Financial Markets now owns 1,578,094 shares of the company's stock worth $150,235,000 after buying an additional 474,796 shares during the last quarter. Institutional investors own 15.52% of the company's stock.

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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