BioNTech (NASDAQ:BNTX) Sees Large Volume Increase - Here's Why

Shares of BioNTech SE (NASDAQ:BNTX - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 1,330,327 shares changed hands during trading, an increase of 43% from the previous session's volume of 930,600 shares.The stock last traded at $116.20 and had previously closed at $113.10.

Wall Street Analysts Forecast Growth

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BNTX has been the topic of several recent analyst reports. Wall Street Zen cut BioNTech from a "hold" rating to a "sell" rating in a research note on Friday. Morgan Stanley dropped their price objective on BioNTech from $140.00 to $132.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group restated a "buy" rating and set a $171.44 price objective on shares of BioNTech in a research note on Tuesday, March 11th. Citigroup reaffirmed a "buy" rating and set a $140.00 target price (down from $145.00) on shares of BioNTech in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their target price on BioNTech from $120.00 to $116.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $139.14.

Check Out Our Latest Stock Report on BioNTech

BioNTech Stock Performance

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The business has a fifty day simple moving average of $97.78 and a 200-day simple moving average of $108.21. The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $28.38 billion, a P/E ratio of -56.22 and a beta of 1.35.

BioNTech (NASDAQ:BNTX - Get Free Report) last released its earnings results on Monday, March 10th. The company reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.70. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.24 billion. During the same period in the prior year, the firm posted $1.90 earnings per share. The company's quarterly revenue was down 19.5% on a year-over-year basis. On average, sell-side analysts predict that BioNTech SE will post -3.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

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Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in BioNTech by 4.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,677 shares of the company's stock worth $419,000 after purchasing an additional 150 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in BioNTech in the 4th quarter worth approximately $1,118,000. Van ECK Associates Corp lifted its holdings in BioNTech by 25.1% in the 4th quarter. Van ECK Associates Corp now owns 118,418 shares of the company's stock worth $13,493,000 after purchasing an additional 23,733 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in BioNTech by 39.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 187,355 shares of the company's stock worth $21,349,000 after purchasing an additional 53,319 shares in the last quarter. Finally, abrdn plc lifted its holdings in BioNTech by 70.7% in the 4th quarter. abrdn plc now owns 385,668 shares of the company's stock worth $43,947,000 after purchasing an additional 159,676 shares in the last quarter. 15.52% of the stock is owned by hedge funds and other institutional investors.

BioNTech Company Profile

BioNTech SE, a biotechnology company, develops and commercializes immunotherapies for cancer and other infectious diseases. The company is developing FixVac product candidates, including BNT111, which is in Phase II clinical trial for advance melanoma; BNT112 that is in Phase I/IIa clinical trial for prostate cancer; BNT113, which is in Phase II clinical trial to treat HPV 16+ head and neck cancers; BNT114 to treat triple negative breast cancer; BNT115, which is in Phase I clinical trial in ovarian cancer; and BNT116, which is in Phase I clinical trial for non-small cell lung cancer.

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