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

Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report)'s share price crossed 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.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. TD Cowen assumed coverage on Benitec Biopharma in a research note on Monday, July 7th. They issued a "buy" rating on the stock. HC Wainwright reissued a "buy" rating and set a $28.00 target price on shares of Benitec Biopharma in a research report on Monday, May 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $20.00 price target on shares of Benitec Biopharma in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Benitec Biopharma currently has a consensus rating of "Buy" and a consensus target price of $23.83.

Benitec Biopharma Trading Down 6.0%

The company has a current ratio of 14.80, a quick ratio of 14.80 and a debt-to-equity ratio of 0.01. The company has a market cap of $289.80 million, a price-to-earnings ratio of -7.31 and a beta of 0.37. The firm's 50-day moving average price is $14.01 and its 200 day moving average price is $12.98.

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

Institutional Investors Weigh In On Benitec Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. bought a new position in Benitec Biopharma in the first quarter worth approximately $597,000. Infinitum Asset Management LLC lifted its position in Benitec Biopharma by 435.7% during the first quarter. Infinitum Asset Management LLC now owns 1,125,000 shares of the biotechnology company's stock valued at $14,636,000 after purchasing an additional 915,000 shares in the last quarter. AWM Investment Company Inc. lifted its position in Benitec Biopharma by 35.2% during the first quarter. AWM Investment Company Inc. now owns 137,977 shares of the biotechnology company's stock valued at $1,795,000 after purchasing an additional 35,950 shares in the last quarter. MYDA Advisors LLC grew its holdings in Benitec Biopharma by 4.0% during the first quarter. MYDA Advisors LLC now owns 52,000 shares of the biotechnology company's stock valued at $677,000 after purchasing an additional 2,000 shares during the period. Finally, Informed Momentum Co LLC purchased a new stake in Benitec Biopharma in the first quarter worth about $512,000. 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.