Benitec Biopharma (NASDAQ:BNTC) Stock Price Passes Below Fifty Day Moving Average – Should You Sell?

Benitec Biopharma Limited (NASDAQ:BNTC)’s share price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $12.71 and traded as low as $12.34. Benitec Biopharma shares last traded at $12.88, with a volume of 22,874 shares.

Analyst Ratings Changes

BNTC has been the topic of several analyst reports. TD Cowen initiated coverage on shares of Benitec Biopharma in a research note on Monday, July 7th. They set a “buy” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $20.00 price target on shares of Benitec Biopharma in a research note on Thursday, May 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Benitec Biopharma in a research note on Monday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $26.00.

Benitec Biopharma Stock Performance

The company has a market capitalization of $338.10 million, a price-to-earnings ratio of -8.53 and a beta of 0.40. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.80 and a current ratio of 14.80. The company’s fifty day simple moving average is $12.71 and its two-hundred day simple moving average is $13.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BNTC. Police & Firemen s Retirement System of New Jersey acquired a new position in Benitec Biopharma during the 2nd quarter valued at about $38,000. JPMorgan Chase & Co. acquired a new position in Benitec Biopharma during the 2nd quarter valued at about $80,000. Bank of America Corp DE boosted its stake in Benitec Biopharma by 2,255.8% during the 2nd quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 6,587 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Benitec Biopharma during the 2nd quarter valued at about $93,000. Finally, New York State Common Retirement Fund acquired a new position in Benitec Biopharma during the 2nd quarter valued at about $95,000. 52.19% of the stock is owned by institutional investors and hedge funds.

Benitec Biopharma Company Profile

Benitec Biopharma Inc, a clinical-stage biotechnology company, focuses on the development of novel genetic medicines. The company develops DNA-directed RNA interference-based therapeutics for chronic and life-threatening human conditions. It is developing BB-301, an adeno-associated virus based gene therapy agent for treating oculopharyngeal muscular dystrophy.