Benitec Biopharma (NASDAQ:BNTC) Releases Quarterly Earnings Results, Hits Estimates

Benitec Biopharma (NASDAQ:BNTC) issued its quarterly earnings data on Monday. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26), FiscalAI reports. The firm had revenue of ($0.83) million for the quarter, compared to analyst estimates of $13.70 million.

Benitec Biopharma Trading Down 0.9%

Shares of BNTC opened at $12.08 on Tuesday. Benitec Biopharma has a 12-month low of $9.85 and a 12-month high of $16.76. The company has a market cap of $414.95 million, a PE ratio of -10.60 and a beta of 0.27. The stock has a 50-day moving average price of $12.62 and a 200-day moving average price of $12.04.

Hedge Funds Weigh In On Benitec Biopharma

A number of institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its stake in Benitec Biopharma by 241.4% in the second quarter. California State Teachers Retirement System now owns 3,639 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 2,573 shares during the period. GAMMA Investing LLC grew its position 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 worth $107,000 after buying an additional 1,256 shares during the period. Bank of America Corp DE increased its stake in shares of Benitec Biopharma by 43.3% in the 1st 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 in the last quarter. ADAR1 Capital Management LLC bought a new stake in Benitec Biopharma during the first quarter worth about $186,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Benitec Biopharma by 37.6% during the first quarter. Bank of New York Mellon Corp now owns 43,489 shares of the biotechnology company’s stock valued at $463,000 after purchasing an additional 11,877 shares in the last quarter. 52.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on BNTC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Friday, July 17th. Wedbush started coverage on shares of Benitec Biopharma in a research note on Tuesday, July 28th. They issued an “outperform” rating and a $16.00 price objective on the stock. Citigroup restated a “market outperform” rating on shares of Benitec Biopharma in a research report on Tuesday. Wall Street Zen raised Benitec Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Guggenheim lowered shares of Benitec Biopharma from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.80.

About Benitec Biopharma

Benitec Biopharma Inc (NASDAQ:BNTC) is a clinical-stage biotechnology company developing genetic medicines based on DNA-directed RNA interference (ddRNAi). The company’s technology is designed to enable long-lasting suppression of disease-causing genes by delivering genetic instructions that produce RNA interference molecules within targeted cells.

Benitec’s lead product candidate is BB-301, an investigational gene therapy being developed for oculopharyngeal muscular dystrophy type 1 (OPMD), a rare inherited disorder that can cause progressive weakness of the muscles involved in swallowing and eye movement.