Benitec Biopharma (NASDAQ:BNTC) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Benitec Biopharma (NASDAQ:BNTC) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03), Zacks reports.

Benitec Biopharma Stock Down 5.7%

BNTC traded down $0.64 on Friday, reaching $10.70. The company had a trading volume of 66,305 shares, compared to its average volume of 125,352. Benitec Biopharma has a 1 year low of $9.80 and a 1 year high of $17.15. The stock has a market capitalization of $366.55 million, a PE ratio of -8.95 and a beta of 0.26. The stock has a 50-day moving average price of $12.35 and a 200-day moving average price of $13.16.

Insider Activity at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 77,387 shares of Benitec Biopharma stock in a transaction dated Monday, December 29th. The stock was acquired at an average cost of $13.44 per share, with a total value of $1,040,081.28. Following the acquisition, the director owned 9,700,195 shares of the company’s stock, valued at approximately $130,370,620.80. This trade represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 190,364 shares of company stock worth $2,442,105 in the last 90 days. 4.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in Benitec Biopharma by 44.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 904 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Benitec Biopharma during the third quarter worth approximately $79,000. JPMorgan Chase & Co. acquired a new stake in shares of Benitec Biopharma during the second quarter worth $80,000. Bank of America Corp DE grew its position in Benitec Biopharma by 2,255.8% in the 2nd quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 6,587 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Benitec Biopharma in the 2nd quarter valued at $93,000. Institutional investors and hedge funds own 52.19% of the company’s stock.

Analyst Ratings Changes

BNTC has been the subject of a number of recent research reports. JMP Securities set a $22.00 price target on shares of Benitec Biopharma in a report on Tuesday, November 4th. Wall Street Zen raised shares of Benitec Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Benitec Biopharma in a research note on Wednesday, January 21st. Citigroup restated an “outperform” rating on shares of Benitec Biopharma in a report on Tuesday, November 4th. Finally, Citizens Jmp upped their target price on Benitec Biopharma from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

Benitec Biopharma Company Profile

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.