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Benitec Biopharma (NASDAQ:BNTC) Share Price Passes Below 50 Day Moving Average - Here's What Happened

Benitec Biopharma logo with Medical background

Key Points

  • Benitec Biopharma shares have recently crossed below their 50-day moving average of $13.87, with a current trading price of $11.18.
  • According to analysts, Benitec has a consensus "Buy" rating with a target price ranging from $20.00 to $28.00, and an overall average target price of $26.00.
  • Institutional investors own 52.19% of Benitec Biopharma, with significant stakes acquired by firms such as Goldman Sachs and Infinitum Asset Management.
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Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $13.87 and traded as low as $11.17. Benitec Biopharma shares last traded at $11.18, with a volume of 55,606 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $28.00 price target on shares of Benitec Biopharma in a report on Monday, May 19th. TD Cowen assumed coverage on Benitec Biopharma in a report on Monday, July 7th. They set a "buy" rating for the company. Finally, JMP Securities reiterated a "market outperform" rating and set a $20.00 price target on shares of Benitec Biopharma in a report on Thursday, May 15th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $26.00.

View Our Latest Stock Analysis on BNTC

Benitec Biopharma Stock Down 6.1%

The company has a market capitalization of $293.48 million, a P/E ratio of -7.40 and a beta of 0.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.80 and a current ratio of 14.80. The stock has a 50 day moving average price of $13.82 and a 200 day moving average price of $12.96.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last released its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.36) by $0.12. Equities research analysts forecast that Benitec Biopharma Limited will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Benitec Biopharma by 1,104.3% during the 1st quarter. GAMMA Investing LLC now owns 77,605 shares of the biotechnology company's stock valued at $1,010,000 after buying an additional 71,161 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Benitec Biopharma by 138.4% during the 4th quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company's stock valued at $448,000 after purchasing an additional 20,597 shares during the period. Northern Trust Corp raised its stake in shares of Benitec Biopharma by 54.2% during the 4th quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company's stock valued at $482,000 after purchasing an additional 13,425 shares during the period. Geode Capital Management LLC raised its stake in shares of Benitec Biopharma by 134.7% during the 4th quarter. Geode Capital Management LLC now owns 197,096 shares of the biotechnology company's stock valued at $2,490,000 after purchasing an additional 113,109 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Benitec Biopharma by 134.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company's stock valued at $24,913,000 after purchasing an additional 1,131,129 shares during the period. Hedge funds and other institutional investors own 52.19% of the company's stock.

About Benitec Biopharma

(Get Free Report)

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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