Benitec Biopharma (NASDAQ:BNTC) Stock Crosses Below 50 Day Moving Average – Here’s What Happened

Shares of Benitec Biopharma Limited (NASDAQ:BNTC) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-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.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BNTC. Citizens Jmp set a $22.00 price objective on shares of Benitec Biopharma in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Benitec Biopharma in a research note on Wednesday, January 21st. Zacks Research upgraded Benitec Biopharma from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. HC Wainwright set a $32.00 price target on Benitec Biopharma and gave the stock a “buy” rating in a research note on Monday, November 24th. Finally, TD Cowen restated a “buy” rating on shares of Benitec Biopharma in a report on Monday, January 12th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Benitec Biopharma Stock Performance

The firm has a market capitalization of $381.97 million, a P/E ratio of -9.75 and a beta of 0.26. The stock’s 50 day simple moving average is $12.00 and its 200 day simple moving average is $13.14.

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

Insiders Place Their Bets

In other news, Director Suvretta Capital Management, L bought 77,387 shares of the stock in a transaction on Monday, December 29th. The stock was acquired at an average cost of $13.44 per share, for a total transaction of $1,040,081.28. Following the acquisition, the director owned 9,700,195 shares of the company’s stock, valued at $130,370,620.80. This represents a 0.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders acquired 190,364 shares of company stock worth $2,442,105. Insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Benitec Biopharma in the second quarter valued at about $38,000. BNP Paribas Financial Markets increased its position 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 purchasing an additional 904 shares during the period. Truvestments Capital LLC raised its holdings in shares of Benitec Biopharma by 156.5% in the 4th quarter. Truvestments Capital LLC now owns 3,834 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 2,339 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Benitec Biopharma in the 3rd quarter worth approximately $79,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Benitec Biopharma during the second quarter valued at approximately $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.