DnB Asset Management AS, an asset management firm, recently increased its holdings in BioNTech SE by 23.5% during the second quarter of this year, according to a filing with the Securities and Exchange Commission (SEC). The firm now owns 37,999 shares of BioNTech’s stock, acquiring an additional 7,219 shares during this period. At the end of the most recent quarter, DnB Asset Management AS’s holdings in BioNTech were valued at $4,101,000.
BioNTech SE is a renowned biotechnology company that specializes in the development and commercialization of immunotherapies for cancer and other infectious diseases. The company’s primary objective is to create innovative treatments that can revolutionize the field of medicine.
One of BioNTech’s most notable product candidates is FixVac. Currently undergoing clinical trials, FixVac aims to tackle various forms of cancer such as advanced melanoma (BNT111), prostate cancer (BNT112), HPV 16+ head and neck cancers (BNT113), ovarian cancer (BNT115), and non-small cell lung cancer (BNT116). Each candidate is at different stages of clinical development but holds great potential.
The Phase II clinical trial for BNT111, targeting advanced melanoma patients, showcases promising results. This candidate has the potential to significantly impact treatment options for those affected by this aggressive form of skin cancer. Similarly, BNT112 focuses on prostate cancer and is currently in Phase I/IIa clinical trials.
BioNTech’s dedication to innovation extends beyond these programs. The company remains committed to advancing its pipeline by leveraging groundbreaking technologies and scientific expertise to address unmet medical needs.
In conclusion, DnB Asset Management AS’s decision to increase its holdings in BioNTech SE reflects confidence in both the company’s potential for growth and its ability to positively impact patient outcomes through innovative immunotherapies. With the impressive progress of FixVac candidates and the commitment to advancing medical research, BioNTech continues to solidify its position as a key player in the biotechnology industry.
Bread Financial Holdings, Inc.
BFH
Buy
Updated on: 27/09/2023
Financial Health
Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Buy
DCF: Strong Buy
ROE: Neutral
Hedge Funds and Analysts Show Interest in BioNTech (NASDAQ: BNTX) with Notable Changes in Holdings and Evaluation
In recent times, there have been notable changes in the holdings of several hedge funds with respect to shares of BioNTech (NASDAQ:BNTX). Envestnet Asset Management Inc., for instance, witnessed a staggering 4,861.2% increase in its position in the company’s stock during the first quarter. The firm now owns a total of 972,535 shares, valued at approximately $1,531,000 after purchasing an additional 952,932 shares within the said period. Renaissance Technologies LLC also joined in by acquiring a new stake in BioNTech during the fourth quarter, amounting to about $49,796,000.
BlackRock Inc., another major institutional investor, raised its stake in BioNTech during the first quarter as well. The firm currently owns 1,610,975 shares of the company’s stock worth $274,768,000 after acquiring an additional 331,101 shares in the last quarter. Clearbridge Investments LLC also expressed interest in BioNTech during the same period by buying a new position worth roughly $31,326,000.
Additionally, Marshall Wace LLP experienced a substantial increase of 164.3% in its stake in shares of BioNTech during the fourth quarter. Currently holding approximately 382,397 shares valued at $57,494,000 after adding an extra 237,709 shares within that time frame.
All combined hedge funds and other institutional investors own approximately 15.52% of BioNTech’s outstanding stock.
Various research analysts have also recently provided their evaluation on BNTX stocks. Morgan Stanley notably decreased their price objective from $119.00 to $116.00 and assigned an “equal weight” rating for the company back on August 8th. On Monday a week later (August 28th), HC Wainwright reiterated a positive “buy” rating with a set price objective of $180 for BioNTech. Finally, HSBC initiated its coverage of BioNTech on July 14th and issued a “buy” rating with a price objective of $124.00.
Moreover, Bloomberg.com’s data reveals that the stock currently maintains a consensus rating of “Moderate Buy.” The majority view among investment analysts is that the target price for BNTX stands at approximately $158.69.
At present, NASDAQ:BNTX opened at $113.06 on Monday, September 18th. The company maintains a market capitalization of $27.25 billion, with a price-to-earnings ratio of 6.34 and a beta value indicating low volatility at 0.17. Over the past year, BioNTech has reached its lowest point at $95.50 and its highest point at $188.99. As for the company’s moving averages, the fifty-day average currently stands at $112.04 while the two-hundred-day average rests around $114.70.
BioNTech released its quarterly earnings data on Monday, August 7th with considerable attention from investors and analysts alike. During this period, the company reported earnings per share (EPS) of ($0.79), exceeding analysts’ estimates by $0.04 as they had placed it at ($0.83) per share for the quarter. However, revenue fell short during this time frame with only $167.70 million generated compared to analyst estimates of $628.13 million.
Despite this gap in revenue performance compared to last year’s quarter (down by 94.8%), BioNTech demonstrated an impressive net margin of 47.37% alongside a return on equity ratio of 21%. In the same quarter last year, the company saw earnings per share soar to an impressive level of $7.
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