Benitec Biopharma (NASDAQ:BNTC) Stock Crosses Above 50 Day Moving Average - What's Next?

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $14.01 and traded as high as $16.93. Benitec Biopharma shares last traded at $15.92, with a volume of 63,956 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JMP Securities reiterated a "market outperform" rating and issued a $20.00 target price on shares of Benitec Biopharma in a research note on Thursday, May 15th. HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of Benitec Biopharma in a research report on Monday, May 19th. Seven analysts have rated the stock with a buy rating and two have issued 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 $23.83.

Benitec Biopharma Price Performance

The company has a market cap of $413.44 million, a P/E ratio of -10.43 and a beta of 0.44. The stock's 50-day moving average is $14.20 and its two-hundred day moving average is $12.74.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last announced its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.24) EPS for the quarter, beating analysts' consensus estimates of ($0.36) by $0.12. On average, analysts predict that Benitec Biopharma Inc. will post -1.48 EPS for the current year.

Insider Buying and Selling at Benitec Biopharma

In other Benitec Biopharma news, Director Suvretta Capital Management, L bought 900,000 shares of Benitec Biopharma stock in a transaction on Wednesday, March 26th. The stock was acquired at an average cost of $13.00 per share, with a total value of $11,700,000.00. Following the completion of the acquisition, the director now owns 8,793,245 shares in the company, valued at approximately $114,312,185. This represents a 11.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Benitec Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its position 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. 683 Capital Management LLC bought a new stake in shares of Benitec Biopharma during the 4th quarter valued at $452,000. Northern Trust Corp raised its position 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. Informed Momentum Co LLC bought a new stake in shares of Benitec Biopharma during the 1st quarter valued at $512,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Benitec Biopharma during the 1st quarter valued at $597,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

About Benitec Biopharma

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.