Benitec Biopharma (NASDAQ:BNTC) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Benitec Biopharma (NASDAQ:BNTC) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03), Zacks reports.

Benitec Biopharma Stock Down 8.5%

NASDAQ:BNTC opened at $10.38 on Friday. Benitec Biopharma has a 52 week low of $9.80 and a 52 week high of $17.15. The stock’s fifty day moving average is $12.29 and its two-hundred day moving average is $13.15. The company has a market capitalization of $355.62 million, a P/E ratio of -9.11 and a beta of 0.26.

Insider Activity at Benitec Biopharma

In other Benitec Biopharma news, Director Suvretta Capital Management, L acquired 77,387 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average price of $13.44 per share, for a total transaction of $1,040,081.28. Following the completion of the acquisition, the director owned 9,700,195 shares of the company’s stock, valued at approximately $130,370,620.80. This trade represents a 0.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have purchased 190,364 shares of company stock valued at $2,442,105. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Benitec Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its holdings in Benitec Biopharma by 219.4% in the second quarter. Ameriprise Financial Inc. now owns 109,925 shares of the biotechnology company’s stock worth $1,286,000 after acquiring an additional 75,507 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Benitec Biopharma in the 2nd quarter worth approximately $503,000. Rhumbline Advisers lifted its holdings in shares of Benitec Biopharma by 11,114.0% in the 2nd quarter. Rhumbline Advisers now owns 20,858 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 20,672 shares during the last quarter. Geode Capital Management LLC boosted its position in Benitec Biopharma by 77.6% during the 2nd quarter. Geode Capital Management LLC now owns 415,211 shares of the biotechnology company’s stock valued at $4,859,000 after purchasing an additional 181,391 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in Benitec Biopharma during the 1st quarter worth $597,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. TD Cowen restated a “buy” rating on shares of Benitec Biopharma in a research note on Monday, January 12th. Wall Street Zen downgraded Benitec Biopharma from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup reiterated an “outperform” rating on shares of Benitec Biopharma in a report on Tuesday, November 4th. Zacks Research upgraded shares of Benitec Biopharma from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Finally, JMP Securities set a $22.00 price objective on shares of Benitec Biopharma in a report on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $26.25.

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.