BioNTech (NASDAQ:BNTX – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.
A number of other analysts also recently weighed in on BNTX. Weiss Ratings reissued a “sell (d-)” rating on shares of BioNTech in a research report on Monday, July 6th. Citigroup reduced their price objective on shares of BioNTech from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $142.00 price objective on shares of BioNTech in a research report on Wednesday. Morgan Stanley lowered their target price on shares of BioNTech from $126.00 to $119.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Finally, Jefferies Financial Group restated a “buy” rating on shares of BioNTech in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.81.
Check Out Our Latest Report on BNTX
BioNTech Price Performance
BioNTech announced that its Board of Directors has approved a stock buyback plan on Thursday, May 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in shares of BioNTech by 86.4% during the fourth quarter. Larson Financial Group LLC now owns 274 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the last quarter. EFG International AG bought a new position in BioNTech in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd lifted its position in BioNTech by 520.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company’s stock valued at $30,000 after acquiring an additional 260 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in BioNTech by 118.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 563 shares of the company’s stock valued at $60,000 after purchasing an additional 305 shares during the last quarter. Finally, Vestcor Inc acquired a new position in BioNTech during the 4th quarter valued at about $153,000. 15.52% of the stock is owned by institutional investors and hedge funds.
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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