Benitec Biopharma (NASDAQ:BNTC) Rating Lowered to Sell at Wall Street Zen

Key Points

• Benitec Biopharma's stock rating was downgraded from "hold" to "sell" by Wall Street Zen, reflecting recent concerns about the company's performance.
• The biotechnology firm reported a loss of ($0.42) earnings per share for the last quarter, missing analysts' expectations of ($0.24).
• Despite the downgrade, Benitec Biopharma has an average rating of "Buy" among analysts, with a consensus price target of $24.80.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.

Other equities research analysts also recently issued reports about the stock. TD Cowen initiated coverage on shares of Benitec Biopharma in a research note on Monday, July 7th. They set a "buy" rating for the company. JMP Securities reiterated a "market outperform" rating and set a $20.00 price objective on shares of Benitec Biopharma in a research note on Wednesday. Finally, Oppenheimer reiterated an "outperform" rating and set a $29.00 price objective (down from $35.00) on shares of Benitec Biopharma in a research note on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $24.80.

Benitec Biopharma Trading Down 0.7%

Benitec Biopharma stock traded down $0.10 during trading on Friday, reaching $13.70. The company had a trading volume of 22,433 shares, compared to its average volume of 42,398. Benitec Biopharma has a 12-month low of $8.49 and a 12-month high of $17.15. The stock's 50 day moving average price is $12.74 and its two-hundred day moving average price is $13.48. The firm has a market capitalization of $359.63 million, a price-to-earnings ratio of -9.32 and a beta of 0.43. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.80 and a current ratio of 54.67.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last released its earnings results on Thursday, September 25th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.18). As a group, equities analysts expect that Benitec Biopharma will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Infinitum Asset Management LLC lifted its position in shares of Benitec Biopharma by 435.7% during the first quarter. Infinitum Asset Management LLC now owns 1,125,000 shares of the biotechnology company's stock worth $14,636,000 after purchasing an additional 915,000 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Benitec Biopharma by 77.6% during the second quarter. Geode Capital Management LLC now owns 415,211 shares of the biotechnology company's stock worth $4,859,000 after purchasing an additional 181,391 shares in the last quarter. AWM Investment Company Inc. lifted its position in shares of Benitec Biopharma by 35.2% during the first quarter. AWM Investment Company Inc. now owns 137,977 shares of the biotechnology company's stock worth $1,795,000 after purchasing an additional 35,950 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Benitec Biopharma by 219.4% during the second quarter. Ameriprise Financial Inc. now owns 109,925 shares of the biotechnology company's stock worth $1,286,000 after purchasing an additional 75,507 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Benitec Biopharma by 1,104.3% during the first quarter. GAMMA Investing LLC now owns 77,605 shares of the biotechnology company's stock worth $1,010,000 after purchasing an additional 71,161 shares in the last quarter. 52.19% of the stock is owned by institutional investors and hedge funds.

Benitec Biopharma Company Profile

Benitec Biopharma Inc, a clinical-stage biotechnology company, focuses on the development of novel genetic medicines. The company develops DNA-directed RNA interference-based therapeutics for chronic and life-threatening human conditions. It is developing BB-301, an adeno-associated virus based gene therapy agent for treating oculopharyngeal muscular dystrophy.

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