Benitec Biopharma (NASDAQ:BNTC) Announces Earnings Results

Benitec Biopharma (NASDAQ:BNTC) announced its earnings results on Thursday. The biotechnology company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03, FiscalAI reports.

Benitec Biopharma Price Performance

Shares of BNTC traded down $0.60 during trading hours on Friday, hitting $11.25. The stock had a trading volume of 34,393 shares, compared to its average volume of 143,119. The firm has a market capitalization of $386.44 million, a PE ratio of -9.87 and a beta of 0.28. Benitec Biopharma has a 12 month low of $9.85 and a 12 month high of $17.15. The stock has a fifty day moving average price of $11.83 and a 200 day moving average price of $12.31.

Institutional Investors Weigh In On Benitec Biopharma

A number of large investors have recently made changes to their positions in BNTC. Suvretta Capital Management LLC lifted its stake in shares of Benitec Biopharma by 16.9% in the 4th quarter. Suvretta Capital Management LLC now owns 11,548,351 shares of the biotechnology company’s stock worth $155,556,000 after purchasing an additional 1,671,845 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in Benitec Biopharma by 7.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,120,672 shares of the biotechnology company’s stock valued at $28,565,000 after buying an additional 148,148 shares during the last quarter. RA Capital Management L.P. bought a new position in Benitec Biopharma in the fourth quarter worth approximately $24,920,000. Nantahala Capital Management LLC boosted its stake in shares of Benitec Biopharma by 23.9% during the 4th quarter. Nantahala Capital Management LLC now owns 1,038,371 shares of the biotechnology company’s stock worth $13,987,000 after acquiring an additional 200,276 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Benitec Biopharma by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 992,114 shares of the biotechnology company’s stock valued at $13,919,000 after acquiring an additional 22,948 shares during the period. 52.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on BNTC. Wall Street Zen downgraded Benitec Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Monday, April 20th. TD Cowen reiterated a “buy” rating on shares of Benitec Biopharma in a report on Monday, March 9th. Evercore initiated coverage on Benitec Biopharma in a research report on Tuesday. They issued an “outperform” rating and a $25.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $32.00 price target on shares of Benitec Biopharma in a report on Monday, March 9th. Six research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.00.

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.