5 Undervalued Defensive Stocks For 2024

3. BioNTech SE (NASDAQ:BNTX)

PE ratio as of December 22 market close: 5.53

Number of Hedge Fund Holders: 19

BioNTech SE (NASDAQ:BNTX) is a German company involved in the development and manufacturing of active immunotherapies.

On December 21, BioNTech SE (NASDAQ:BNTX) announced that its BNT323/DB-1303, next-generation antibody-drug conjugate candidate co-developed with Duality Biologics (Suzhou) Co. Ltd., received Breakthrough Therapy designation from the U.S. Food and Drug Administration.

Artisan Partners mentioned BioNTech SE (NASDAQ:BNTX) in its third quarter 2023 investor letter. Here is what it said:

“Notable trims in the quarter included Zscaler, BioNTech SE (NASDAQ:BNTX) and Ingersoll Rand. BioNTech is a biotech company focused on developing immunotherapies to treat cancer and other serious diseases. Management has been using its COVID-19 vaccine cash flows to reinvest in building a substantial early stage pipeline. The company’s intellectual property in mRNA and COVID-funded manufacturing capacity leave it well positioned to develop new mRNA vaccines and cancer therapies. In addition, the company has non-mRNA technology (e.g., cell therapy assets) and blue-chip partnerships offering additional optionality. While we are optimistic that this pipeline will eventually yield promising medications within oncology and infectious diseases, patience will be required. In the meantime, demand for COVID-19 vaccine boosters continues to wane. Therefore, we decided to trim the position in favor of more compelling near-term opportunities.”