Why BioNTech's Stock Is Trading Lower Wednesday

BioNTech SE - ADR BNTX shares are trading lower by 12.6% at $364 Wednesday morning after findings from a recent Mayo Clinic study showed competitor Moderna's COVID-19 vaccine could possibly be more effective against the Delta variant.

Before the market open Wednesday, Bryan Garnier analyst Olga Smolentseva upgraded BioNTech Wednesday from Neutral to Buy and announced a $451 price target.

HC Wainwright & Co. analyst Robert Burns maintained BioNTech with a Neutral and raised the price target from $194 to $330.

BioNTech has a 52-week high of $464 and a 52-week low of $54.10.