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

Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $14.10 and traded as low as $11.47. Benitec Biopharma shares last traded at $11.75, with a volume of 155,362 shares changing hands.

Analyst Upgrades and Downgrades

BNTC has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $28.00 target price on shares of Benitec Biopharma in a report on Monday, May 19th. JMP Securities reaffirmed a "market outperform" rating and issued a $20.00 target price on shares of Benitec Biopharma in a report on Thursday, May 15th. Finally, TD Cowen initiated coverage on Benitec Biopharma in a report on Monday, July 7th. They issued a "buy" rating on the stock. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $23.83.

Benitec Biopharma Price Performance

The stock's 50-day moving average price is $14.06 and its 200 day moving average price is $12.99. The firm has a market cap of $289.80 million, a price-to-earnings ratio of -7.31 and a beta of 0.37. The company has a quick ratio of 14.80, a current ratio of 14.80 and a debt-to-equity ratio of 0.01.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BNTC. Ameriprise Financial Inc. raised its position in Benitec Biopharma by 138.4% in the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company's stock worth $448,000 after purchasing an additional 20,597 shares in the last quarter. 683 Capital Management LLC acquired a new position in Benitec Biopharma in the fourth quarter worth about $452,000. Northern Trust Corp raised its position in Benitec Biopharma by 54.2% in the fourth quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company's stock worth $482,000 after purchasing an additional 13,425 shares in the last quarter. Informed Momentum Co LLC acquired a new position in Benitec Biopharma in the first quarter worth about $512,000. Finally, Goldman Sachs Group Inc. acquired a new position in Benitec Biopharma in the first quarter worth about $597,000. Institutional investors and hedge funds 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.