Benitec Biopharma (NASDAQ:BNTC) Posts Quarterly Earnings Results

Benitec Biopharma (NASDAQ:BNTC) posted its earnings results on Monday. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, FiscalAI reports.

Benitec Biopharma Trading Down 0.9%

BNTC traded down $0.11 on Monday, hitting $12.08. 106,236 shares of the company’s stock were exchanged, compared to its average volume of 135,849. Benitec Biopharma has a fifty-two week low of $9.85 and a fifty-two week high of $16.76. The stock has a market cap of $415.00 million, a price-to-earnings ratio of -10.60 and a beta of 0.27. The firm has a 50-day moving average price of $12.64 and a 200-day moving average price of $12.03.

Analysts Set New Price Targets

A number of research analysts have weighed in on BNTC shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Friday, July 17th. Wedbush assumed coverage on Benitec Biopharma in a research report on Tuesday, July 28th. They set an “outperform” rating and a $16.00 price target on the stock. Guggenheim lowered Benitec Biopharma from a “buy” rating to a “neutral” rating in a report on Wednesday, June 10th. Finally, Wall Street Zen raised Benitec Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Benitec Biopharma has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Hedge Funds Weigh In On Benitec Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Benitec Biopharma by 18.7% in the 2nd quarter. GAMMA Investing LLC now owns 7,961 shares of the biotechnology company’s stock valued at $107,000 after acquiring an additional 1,256 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Benitec Biopharma by 241.4% during the 2nd quarter. California State Teachers Retirement System now owns 3,639 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 2,573 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Benitec Biopharma by 43.3% during the 1st quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 5,251 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Benitec Biopharma by 37.6% in the first quarter. Bank of New York Mellon Corp now owns 43,489 shares of the biotechnology company’s stock valued at $463,000 after purchasing an additional 11,877 shares in the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Benitec Biopharma in the first quarter valued at approximately $186,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

About Benitec Biopharma

Benitec Biopharma Inc (NASDAQ:BNTC) is a clinical-stage biotechnology company developing genetic medicines based on DNA-directed RNA interference (ddRNAi). The company’s technology is designed to enable long-lasting suppression of disease-causing genes by delivering genetic instructions that produce RNA interference molecules within targeted cells.

Benitec’s lead product candidate is BB-301, an investigational gene therapy being developed for oculopharyngeal muscular dystrophy type 1 (OPMD), a rare inherited disorder that can cause progressive weakness of the muscles involved in swallowing and eye movement.