Benitec Biopharma (NASDAQ:BNTC) Share Price Crosses Below 50-Day Moving Average – Time to Sell?

Benitec Biopharma Inc. (NASDAQ:BNTC)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.09 and traded as low as $10.75. Benitec Biopharma shares last traded at $11.06, with a volume of 25,557 shares.

Analyst Ratings Changes

A number of brokerages recently commented on BNTC. JMP Securities raised their price objective on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a research report on Monday, October 14th. HC Wainwright assumed coverage on shares of Benitec Biopharma in a report on Monday, December 16th. They set a “buy” rating and a $28.00 price objective on the stock. Oppenheimer assumed coverage on Benitec Biopharma in a research note on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price target on the stock. Baird R W raised shares of Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Robert W. Baird assumed coverage on shares of Benitec Biopharma in a report on Friday, December 13th. They set an “outperform” rating and a $30.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Benitec Biopharma presently has an average rating of “Buy” and a consensus price target of $24.43.

Benitec Biopharma Trading Down 0.7 %

The stock has a market cap of $256.77 million, a price-to-earnings ratio of -3.89 and a beta of 0.82. The firm’s 50 day moving average is $11.09 and its two-hundred day moving average is $9.85.

Insiders Place Their Bets

In related news, Director Suvretta Capital Management, L acquired 27,502 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average cost of $10.98 per share, for a total transaction of $301,971.96. Following the acquisition, the director now directly owns 7,981,725 shares in the company, valued at approximately $87,639,340.50. The trade was a 0.35 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Benitec Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in BNTC. Simplify Asset Management Inc. purchased a new position in shares of Benitec Biopharma in the 2nd quarter valued at $358,000. Nantahala Capital Management LLC acquired a new stake in Benitec Biopharma during the 2nd quarter valued at approximately $5,881,000. GAMMA Investing LLC boosted its stake in shares of Benitec Biopharma by 20.3% during the 3rd quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 1,102 shares during the last quarter. Acuta Capital Partners LLC bought a new position in Benitec Biopharma during the 3rd quarter valued at $274,000. Finally, Suvretta Capital Management LLC grew its holdings in Benitec Biopharma by 422.0% during the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after acquiring an additional 7,137,763 shares in the last quarter. 52.19% of the stock is currently owned by institutional investors and hedge funds.

Benitec Biopharma Company Profile

Benitec Biopharma Inc, a clinical-stage biotechnology company, focuses on the development of novel genetic medicines. The company develops DNA-directed RNA interference-based therapeutics for chronic and life-threatening human conditions. It is developing BB-301, an adeno-associated virus based gene therapy agent for treating oculopharyngeal muscular dystrophy.