Benitec Biopharma (NASDAQ:BNTC) Share Price Passes Above Fifty Day Moving Average – Time to Sell?

Benitec Biopharma Limited (NASDAQ:BNTC) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.93 and traded as high as $13.37. Benitec Biopharma shares last traded at $12.98, with a volume of 65,265 shares.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BNTC shares. Wall Street Zen cut Benitec Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Guggenheim lowered shares of Benitec Biopharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 10th. Evercore began coverage on shares of Benitec Biopharma in a research note on Tuesday, May 12th. They set an “outperform” rating and a $25.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Benitec Biopharma in a report on Monday, April 20th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.00.

Benitec Biopharma Stock Down 2.8%

The company has a market cap of $434.87 million, a PE ratio of -11.11 and a beta of 0.25. The stock has a 50-day moving average of $11.94 and a 200-day moving average of $11.88.

Benitec Biopharma (NASDAQ:BNTC) last posted its earnings results on Thursday, May 14th. The biotechnology company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.03. Research analysts expect that Benitec Biopharma Limited will post -1.04 EPS for the current year.

Institutional Investors Weigh In On Benitec Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in Benitec Biopharma by 18.7% in the second quarter. GAMMA Investing LLC now owns 7,961 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 1,256 shares in the last quarter. Bank of America Corp DE grew its stake in Benitec Biopharma by 43.3% in the 1st quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company’s stock worth $185,000 after buying an additional 5,251 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Benitec Biopharma in the 1st quarter worth $186,000. Bank of New York Mellon Corp increased its holdings in shares of Benitec Biopharma by 37.6% in the 1st quarter. Bank of New York Mellon Corp now owns 43,489 shares of the biotechnology company’s stock worth $463,000 after buying an additional 11,877 shares during the last quarter. Finally, Simplify Asset Management Inc. raised its position in shares of Benitec Biopharma by 271.9% during the 1st quarter. Simplify Asset Management Inc. now owns 562,242 shares of the biotechnology company’s stock valued at $5,988,000 after buying an additional 411,079 shares in the last quarter. 52.19% of the stock is owned by hedge funds and other institutional investors.

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.