Benitec Biopharma (NASDAQ:BNTC) Shares Down 0.2% - Here's What Happened

Key Points

• Benitec Biopharma shares decreased by 0.2%, closing at $15.83 with significantly lower trading volume, down 41% from its average daily volume.
• Analyst ratings of Benitec have varied, with JMP Securities maintaining a "market outperform" rating at a $20 price target, while Oppenheimer lowered their target to $29, indicating mixed outlooks among analysts.
• The company reported a larger-than-expected earnings loss of ($0.42) per share, missing the consensus estimate by ($0.18).

Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report) was down 0.2% during trading on Wednesday . The company traded as low as $15.18 and last traded at $15.83. Approximately 35,339 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 59,750 shares. The stock had previously closed at $15.86.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BNTC shares. JMP Securities reissued a "market outperform" rating and issued a $20.00 price objective on shares of Benitec Biopharma in a report on Wednesday, September 24th. Oppenheimer reissued an "outperform" rating and issued a $29.00 price objective (down previously from $35.00) on shares of Benitec Biopharma in a report on Tuesday, September 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of Benitec Biopharma in a report on Wednesday, October 8th. TD Cowen started coverage on shares of Benitec Biopharma in a report on Monday, July 7th. They issued a "buy" rating for the company. Finally, Wall Street Zen lowered shares of Benitec Biopharma from a "hold" rating to a "sell" rating in a report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.80.

Benitec Biopharma Trading Down 0.2%

The company has a debt-to-equity ratio of 0.01, a current ratio of 54.67 and a quick ratio of 54.67. The company has a market cap of $415.54 million, a PE ratio of -10.77 and a beta of 0.41. The company's 50 day simple moving average is $13.90 and its two-hundred day simple moving average is $13.54.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Simplify Asset Management Inc. boosted its stake in shares of Benitec Biopharma by 13.8% in the third quarter. Simplify Asset Management Inc. now owns 78,725 shares of the biotechnology company's stock valued at $1,105,000 after purchasing an additional 9,552 shares during the period. Bank of America Corp DE boosted its stake in shares of Benitec Biopharma by 2,255.8% in the second quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company's stock valued at $80,000 after purchasing an additional 6,587 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Benitec Biopharma by 219.4% in the second quarter. Ameriprise Financial Inc. now owns 109,925 shares of the biotechnology company's stock valued at $1,286,000 after purchasing an additional 75,507 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Benitec Biopharma in the second quarter valued at approximately $93,000. Finally, Marshall Wace LLP purchased a new position in shares of Benitec Biopharma in the second quarter valued at approximately $503,000. Hedge funds and other institutional investors own 52.19% of the company's stock.

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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