Wells Fargo & Company Cuts BioNTech (NASDAQ:BNTX) Price Target to $140.00

BioNTech (NASDAQ:BNTXGet Free Report) had its target price lowered by research analysts at Wells Fargo & Company from $150.00 to $140.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 48.46% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Morgan Stanley lifted their price objective on BioNTech from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Canaccord Genuity Group restated a “buy” rating and issued a $171.00 price objective on shares of BioNTech in a report on Wednesday, March 11th. The Goldman Sachs Group restated a “buy” rating on shares of BioNTech in a report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of BioNTech in a research report on Wednesday, April 8th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of BioNTech in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.60.

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BioNTech Trading Down 1.3%

BNTX traded down $1.20 during trading on Wednesday, reaching $94.30. The company had a trading volume of 265,093 shares, compared to its average volume of 1,085,830. The firm’s 50-day simple moving average is $97.23 and its 200 day simple moving average is $101.06. The company has a market cap of $23.85 billion, a price-to-earnings ratio of -17.94 and a beta of 1.36. BioNTech has a 12-month low of $79.52 and a 12-month high of $124.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.49 and a current ratio of 7.54.

BioNTech (NASDAQ:BNTXGet Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($0.39) earnings per share for the quarter. BioNTech had a negative return on equity of 4.76% and a negative net margin of 38.09%.The company had revenue of $1.06 billion during the quarter. Equities research analysts anticipate that BioNTech will post -4.55 earnings per share for the current year.

Insider Activity

In other BioNTech news, COO Sierk Poetting sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $110.56, for a total value of $5,528,000.00. Following the completion of the sale, the chief operating officer owned 399,387 shares in the company, valued at approximately $44,156,226.72. This trade represents a 11.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Marks Group Wealth Management Inc raised its position in BioNTech by 16.0% in the 1st quarter. Marks Group Wealth Management Inc now owns 3,454 shares of the company’s stock worth $307,000 after purchasing an additional 476 shares during the last quarter. Arlington Capital Management Inc. raised its position in BioNTech by 57.7% in the 1st quarter. Arlington Capital Management Inc. now owns 4,100 shares of the company’s stock worth $364,000 after purchasing an additional 1,500 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in BioNTech in the 1st quarter worth approximately $6,905,000. Quantum Portfolio Management LLC bought a new position in BioNTech during the first quarter worth about $203,000. Finally, USS Investment Management Ltd boosted its holdings in BioNTech by 1.2% during the first quarter. USS Investment Management Ltd now owns 32,577 shares of the company’s stock worth $2,854,000 after buying an additional 382 shares during the last quarter. Institutional investors own 15.52% of the company’s stock.

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About BioNTech

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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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