Benitec Biopharma (NASDAQ:BNTC) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Benitec Biopharma Limited (NASDAQ:BNTCGet Free Report) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $12.22 and traded as high as $13.95. Benitec Biopharma shares last traded at $13.78, with a volume of 89,004 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wall Street Zen upgraded Benitec Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Friday, July 17th. Guggenheim cut Benitec Biopharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 10th. Evercore began coverage on Benitec Biopharma in a research note on Tuesday, May 12th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, Wedbush assumed coverage on shares of Benitec Biopharma in a research report on Tuesday, July 28th. They set an “outperform” rating and a $16.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Benitec Biopharma presently has an average rating of “Moderate Buy” and a consensus price target of $24.80.

Get Our Latest Stock Analysis on Benitec Biopharma

Benitec Biopharma Stock Down 8.5%

The firm has a market capitalization of $423.88 million, a P/E ratio of -10.82 and a beta of 0.28. The business’s 50 day moving average is $12.28 and its 200-day moving average is $11.87.

Benitec Biopharma (NASDAQ:BNTCGet Free Report) last issued its earnings results on Thursday, May 14th. The biotechnology company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. Research analysts forecast that Benitec Biopharma Limited will post -1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BNTC. Bank of New York Mellon Corp acquired a new position in Benitec Biopharma during the second quarter worth about $804,000. GAMMA Investing LLC boosted its stake in shares of Benitec Biopharma by 18.7% in the 2nd quarter. GAMMA Investing LLC now owns 7,961 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 1,256 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Benitec Biopharma by 43.3% during the 1st quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company’s stock valued at $185,000 after purchasing an additional 5,251 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Benitec Biopharma during the 1st quarter valued at approximately $186,000. Finally, Simplify Asset Management Inc. increased its position in Benitec Biopharma by 271.9% during the 1st quarter. Simplify Asset Management Inc. now owns 562,242 shares of the biotechnology company’s stock worth $5,988,000 after purchasing an additional 411,079 shares in the last quarter. Institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Company Profile

(Get Free Report)

Benitec Biopharma Ltd (NASDAQ: BNTC) is a clinical-stage biotechnology company developing gene-silencing therapies for serious human diseases. The company’s proprietary DNA-directed RNA interference (ddRNAi) platform is designed to enable sustained expression of small RNA molecules that specifically target and silence disease-causing genes. By integrating RNAi sequences directly into DNA constructs, ddRNAi aims to provide a long-term therapeutic effect from a single administration.

Benitec’s lead programs include development of ddRNAi candidates for chronic hepatitis B virus infection and for certain ocular conditions.

Further Reading

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