Benitec Biopharma (NASDAQ:BNTC) Shares Cross Below 50-Day Moving Average – Here’s Why

Benitec Biopharma Limited (NASDAQ:BNTC) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $12.00 and traded as low as $10.50. Benitec Biopharma shares last traded at $11.12, with a volume of 202,427 shares changing hands.

Wall Street Analysts Forecast Growth

BNTC has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Benitec Biopharma from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. TD Cowen reiterated a “buy” rating on shares of Benitec Biopharma in a research note on Monday, January 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Benitec Biopharma in a report on Wednesday, January 21st. Zacks Research raised Benitec Biopharma from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Finally, HC Wainwright set a $32.00 target price on Benitec Biopharma and gave the stock a “buy” rating in a research report on Monday, November 24th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.67.

Benitec Biopharma Stock Up 3.7%

The stock’s 50 day moving average is $12.00 and its 200-day moving average is $13.14. The company has a market cap of $381.97 million, a PE ratio of -9.75 and a beta of 0.26.

Benitec Biopharma (NASDAQ:BNTC) last posted its earnings results on Thursday, February 12th. The biotechnology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). On average, analysts anticipate that Benitec Biopharma Limited will post -1.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Suvretta Capital Management, L acquired 77,387 shares of Benitec Biopharma stock in a transaction on Monday, December 29th. The shares were bought at an average cost of $13.44 per share, with a total value of $1,040,081.28. Following the completion of the purchase, the director directly owned 9,700,195 shares of the company’s stock, valued at $130,370,620.80. The trade was a 0.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased 190,364 shares of company stock worth $2,442,105 over the last quarter. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Benitec Biopharma

A number of institutional investors and hedge funds have recently modified their holdings of BNTC. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Benitec Biopharma during the 2nd quarter valued at approximately $38,000. BNP Paribas Financial Markets boosted 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 buying an additional 904 shares during the period. Truvestments Capital LLC increased its position in Benitec Biopharma by 156.5% during the fourth quarter. Truvestments Capital LLC now owns 3,834 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 2,339 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Benitec Biopharma during the third quarter valued at $79,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Benitec Biopharma in the second quarter valued at $80,000. Hedge funds and other institutional investors 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.