Benitec Biopharma (NASDAQ:BNTC) Stock Passes Below 50 Day Moving Average - Time to Sell?

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.

Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report) shares passed 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 traded.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of Benitec Biopharma in a research note on Monday, May 19th. JMP Securities reiterated a "market outperform" rating and issued a $20.00 price target on shares of Benitec Biopharma in a research note on Thursday, May 15th. Finally, TD Cowen initiated coverage on Benitec Biopharma in a research note on Monday, July 7th. They issued a "buy" rating on the stock. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $26.00.

Benitec Biopharma Stock Performance

The company has a quick ratio of 14.80, a current ratio of 14.80 and a debt-to-equity ratio of 0.01. The firm has a market cap of $290.33 million, a price-to-earnings ratio of -7.32 and a beta of 0.37. The company has a 50 day moving average of $13.76 and a 200 day moving average of $12.99.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.12. As a group, equities research analysts expect that Benitec Biopharma Limited will post -1.48 EPS for the current fiscal year.

Institutional Trading of Benitec Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in Benitec Biopharma by 138.4% in the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company's stock valued at $448,000 after buying an additional 20,597 shares during the last quarter. 683 Capital Management LLC bought a new stake in Benitec Biopharma in the fourth quarter valued at about $452,000. Northern Trust Corp increased its holdings in Benitec Biopharma by 54.2% in the fourth quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company's stock valued at $482,000 after buying an additional 13,425 shares during the last quarter. Informed Momentum Co LLC bought a new stake in Benitec Biopharma in the first quarter valued at about $512,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Benitec Biopharma during the first quarter valued at approximately $597,000. 52.19% of the stock is owned by institutional investors.

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.