Benitec Biopharma (NASDAQ:BNTC) Shares Pass Below Fifty Day Moving Average – Here’s Why

Shares of Benitec Biopharma Limited (NASDAQ:BNTC) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $11.70 and traded as low as $10.55. Benitec Biopharma shares last traded at $11.05, with a volume of 44,936 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on BNTC. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Benitec Biopharma in a research report on Monday, March 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Monday, April 20th. Wall Street Zen raised Benitec Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Evercore initiated coverage on Benitec Biopharma in a report on Tuesday, May 12th. They set an “outperform” rating and a $25.00 target price on the stock. Finally, TD Cowen restated a “buy” rating on shares of Benitec Biopharma in a report on Monday, March 9th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $27.00.

Benitec Biopharma Price Performance

The business has a fifty day moving average of $11.69 and a 200 day moving average of $11.94. The stock has a market cap of $362.39 million, a PE ratio of -9.25 and a beta of 0.27.

Benitec Biopharma (NASDAQ:BNTC) last announced its earnings results on Thursday, May 14th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03. On average, equities research analysts expect that Benitec Biopharma Limited will post -1.04 EPS for the current year.

Institutional Trading of Benitec Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of BNTC. BNP Paribas Financial Markets lifted its stake in Benitec Biopharma by 44.5% during the third quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 904 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Benitec Biopharma by 0.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 262,205 shares of the biotechnology company’s stock valued at $3,532,000 after buying an additional 1,786 shares during the last quarter. Barclays PLC raised its stake in Benitec Biopharma by 9.1% during the fourth quarter. Barclays PLC now owns 23,211 shares of the biotechnology company’s stock worth $313,000 after acquiring an additional 1,928 shares during the period. Truvestments Capital LLC lifted its holdings in Benitec Biopharma by 156.5% in the fourth quarter. Truvestments Capital LLC now owns 3,834 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 2,339 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Benitec Biopharma by 43.3% in the first quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 5,251 shares during the last quarter. Institutional investors and hedge funds own 52.19% of the company’s stock.

About Benitec Biopharma

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.