BioNTech (NASDAQ:BNTX) Sees Strong Trading Volume – Still a Buy?

BioNTech SE Sponsored ADR (NASDAQ:BNTX) shares saw unusually-high trading volume on Wednesday . Approximately 1,363,023 shares were traded during mid-day trading, an increase of 24% from the previous session’s volume of 1,103,628 shares.The stock last traded at $92.3720 and had previously closed at $83.89.

Analyst Upgrades and Downgrades

BNTX has been the subject of several research analyst reports. BMO Capital Markets lowered their price target on shares of BioNTech from $143.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday. Canaccord Genuity Group restated a “buy” rating and set a $171.00 price objective on shares of BioNTech in a research report on Wednesday. Leerink Partners cut BioNTech from an “outperform” rating to a “market perform” rating and set a $113.00 target price for the company. in a report on Monday, February 2nd. Citigroup dropped their target price on BioNTech from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of BioNTech in a research note on Wednesday. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.73.

BioNTech Trading Down 0.4%

The company has a market cap of $20.20 billion, a P/E ratio of -17.18 and a beta of 1.51. The firm’s 50 day moving average is $106.54 and its two-hundred day moving average is $102.66. The company has a quick ratio of 7.02, a current ratio of 7.54 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On BioNTech

Institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC lifted its stake in shares of 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 acquiring an additional 127 shares during the period. EFG International AG bought a new position in BioNTech during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd raised its holdings in BioNTech by 520.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company’s stock worth $30,000 after purchasing an additional 260 shares during the last quarter. Financial Consulate Inc. acquired a new position in shares of BioNTech in the 3rd quarter worth approximately $36,000. Finally, Huntington National Bank boosted its stake in shares of BioNTech by 1,266.7% in the 3rd quarter. Huntington National Bank now owns 410 shares of the company’s stock valued at $40,000 after purchasing an additional 380 shares during the last quarter. Institutional investors and hedge funds own 15.52% of the company’s stock.

BioNTech Company Profile

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.