BioNTech Shares Under Pressure as Key Investor Exits

The German biotech firm BioNTech finds itself navigating turbulent waters following a significant divestment by its longtime collaborator. In a decisive overnight move, Pfizer sold its entire remaining stake of 4.55 million American Depositary Receipts (ADRs), sending a stark signal to the market and contributing to a sharp pre-market decline in the share price.

A Strategic Partner’s Complete Exit

Pfizer’s decision to liquidate its entire position marks a pivotal moment for BioNTech. The shares were offloaded via a block trade at prices ranging from $108 to $111.70 per ADR. This is more than a simple portfolio rebalancing; it is widely interpreted as a clear vote of no confidence from a former ally in the company’s near-term growth prospects. While BioNTech has been quick to emphasize that its operational partnership with Pfizer remains intact, investors are clearly concerned that the complete share sale indicates deeper underlying issues.

A Quarter of Contrasts: Soaring Revenue Meets Net Loss

The company’s latest quarterly report for Q3 2025 presents a conflicting narrative. On the surface, the revenue figures are impressive, with sales exploding to €1.52 billion, significantly surpassing analyst expectations of €1.01 billion. This performance was largely fueled by revenue from its collaboration with Bristol Myers Squibb.

However, the bottom line tells a different story. Despite the massive top-line growth, BioNTech reported a net loss of €28.7 million, translating to a loss per share of €0.12. This result fell well short of market forecasts, which had anticipated a profit of €0.10 per share. The glaring discrepancy between soaring revenue and a lack of profitability is raising serious questions among shareholders and amplifying market jitters.

Should investors sell immediately? Or is it worth buying BioNTech?

Institutional Investors Follow Suit

The negative sentiment is not isolated to Pfizer. Other major investors are also scaling back their exposure. Asset manager Candriam S.C.A. recently sold 84,219 BioNTech shares, reducing its holding by 12.6 percent. Such substantial divestments by institutional players are typically viewed as an indicator of a deteriorating long-term outlook, adding further downward pressure on the stock.

Key Data Points:

• Pfizer divests its entire remaining stake of 4.55 million ADRs.
• Q3 2025 revenue reaches €1.52 billion, well above the €1.01 billion forecast.
• Q3 2025 results show a net loss per share of €0.12, missing the expected profit of €0.10.
• Institutional selling continues as Candriam reduces its position by over 84,000 shares.

A Lone Voice of Bullishness

Amid the widespread selling, one notable analyst firm stands firm in its optimism. HC Wainwright has not only maintained its “Buy” recommendation on BioNTech but has also raised its price target from $136 to $140. This bullish stance is a stark contrast to the prevailing market mood, suggesting that some experts still see significant potential in BioNTech’s development pipeline and financial foundation, regardless of the current challenges. Whether this confidence is warranted remains to be seen as the company works to restore investor trust.