Benitec Biopharma (NASDAQ:BNTC) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Shares of Benitec Biopharma Limited (NASDAQ:BNTC) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.70 and traded as low as $10.55. Benitec Biopharma shares last traded at $11.05, with a volume of 44,936 shares.

Wall Street Analysts Forecast Growth

Several research firms have commented on BNTC. Weiss Ratings reissued a “sell (d-)” rating on shares of Benitec Biopharma in a report on Monday, April 20th. TD Cowen reissued a “buy” rating on shares of Benitec Biopharma in a research note on Monday, March 9th. HC Wainwright reissued a “buy” rating and issued a $32.00 price objective on shares of Benitec Biopharma in a research note on Monday, March 9th. Wall Street Zen raised Benitec Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Evercore began coverage on Benitec Biopharma in a research note on Tuesday, May 12th. They issued an “outperform” rating and a $25.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.00.

Benitec Biopharma Price Performance

The company’s fifty day simple moving average is $11.70 and its 200-day simple moving average is $11.95. The firm has a market capitalization of $379.61 million, a PE ratio of -9.69 and a beta of 0.27.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.03. As a group, equities research analysts anticipate that Benitec Biopharma Limited will post -1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Benitec Biopharma

A number of large investors have recently made changes to their positions in BNTC. RA Capital Management L.P. purchased a new stake in Benitec Biopharma in the fourth quarter valued at $24,920,000. Suvretta Capital Management LLC raised its position in shares of Benitec Biopharma by 16.9% in the fourth quarter. Suvretta Capital Management LLC now owns 11,548,351 shares of the biotechnology company’s stock worth $155,556,000 after acquiring an additional 1,671,845 shares during the period. Siren L.L.C. acquired a new position in shares of Benitec Biopharma in the fourth quarter worth about $10,439,000. Alyeska Investment Group L.P. acquired a new position in shares of Benitec Biopharma in the fourth quarter worth about $10,102,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Benitec Biopharma during the 4th quarter worth about $8,776,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

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.