Rhenman & Partners Asset Management AB cut its holdings in BioNTech SE Sponsored ADR (NASDAQ:BNTX – Free Report) by 41.8% during the fourth quarter, HoldingsChannel reports. The firm owned 20,870 shares of the company’s stock after selling 15,000 shares during the period. Rhenman & Partners Asset Management AB’s holdings in BioNTech were worth $1,987,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC increased 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 purchasing an additional 127 shares during the period. Huntington National Bank increased its stake in shares of BioNTech by 1,266.7% in the third quarter. Huntington National Bank now owns 410 shares of the company’s stock worth $40,000 after purchasing an additional 380 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of BioNTech by 118.2% in the second quarter. Tower Research Capital LLC TRC now owns 563 shares of the company’s stock worth $60,000 after purchasing an additional 305 shares during the period. Jones Financial Companies Lllp increased its stake in shares of BioNTech by 50.6% in the third quarter. Jones Financial Companies Lllp now owns 1,199 shares of the company’s stock worth $118,000 after purchasing an additional 403 shares during the period. Finally, Vestcor Inc bought a new position in shares of BioNTech in the fourth quarter worth about $153,000. 15.52% of the stock is currently owned by institutional investors.
BioNTech Price Performance
Shares of NASDAQ:BNTX opened at $90.54 on Friday. BioNTech SE Sponsored ADR has a 1-year low of $79.52 and a 1-year high of $124.00. The firm has a market capitalization of $22.90 billion, a PE ratio of -15.40 and a beta of 1.32. The business’s 50 day moving average is $94.57 and its 200-day moving average is $98.47. The company has a current ratio of 8.80, a quick ratio of 8.74 and a debt-to-equity ratio of 0.01.
BioNTech announced that its board has authorized a share repurchase plan on Thursday, May 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on BNTX shares. Bank of America reiterated a “buy” rating and issued a $128.00 price objective on shares of BioNTech in a research note on Tuesday, March 10th. TD Cowen dropped their price objective on BioNTech from $116.00 to $94.00 and set a “hold” rating on the stock in a research note on Wednesday, March 11th. Berenberg Bank lowered their price target on BioNTech from $155.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Jefferies Financial Group restated a “buy” rating on shares of BioNTech in a research note on Monday, June 1st. Finally, Wells Fargo & Company reduced their price objective on BioNTech from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.56.
Read Our Latest Stock Report on BNTX
Insiders Place Their Bets
In other BioNTech news, COO Sierk Poetting sold 50,000 shares of BioNTech stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $110.56, for a total transaction of $5,528,000.00. Following the sale, the chief operating officer directly owned 399,387 shares of the company’s stock, valued at approximately $44,156,226.72. The trade was a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.20% 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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