Benitec Biopharma (NASDAQ:BNTC) Stock Price Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• BNTC shares rose above their 50-day moving average, reaching $13.65 before last trading at $12.88, compared with a 50-day average of $12.48.
• Analyst sentiment is generally positive but mixed: seven analysts rate the stock Buy, two rate it Hold and one rates it Sell. The consensus rating is Moderate Buy, with an average price target of $24.80.
• Benitec Biopharma is a clinical-stage biotechnology company developing DNA-directed RNA interference therapies, including candidates for chronic hepatitis B and ocular diseases; institutional investors own 52.19% of its shares.

Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report)'s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $12.48 and traded as high as $13.65. Benitec Biopharma shares last traded at $12.88, with a volume of 211,212 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BNTC shares. Wedbush started coverage on Benitec Biopharma in a report on Tuesday, July 28th. They set an "outperform" rating and a $16.00 price target for the company. Evercore assumed coverage on Benitec Biopharma in a research note on Tuesday, May 12th. They issued an "outperform" rating and a $25.00 target price for the company. Guggenheim cut Benitec Biopharma from a "buy" rating to a "neutral" rating in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of Benitec Biopharma from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Benitec Biopharma in a report on Friday, July 17th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.80.

Benitec Biopharma Stock Performance

The company has a market capitalization of $442.43 million, a price-to-earnings ratio of -11.30 and a beta of 0.28. The company has a 50-day moving average price of $12.48 and a 200-day moving average price of $11.88.

Hedge Funds Weigh In On Benitec Biopharma

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in shares of Benitec Biopharma by 44.5% in the third quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company's stock valued at $41,000 after buying an additional 904 shares during the period. Truvestments Capital LLC lifted its position in Benitec Biopharma by 156.5% in the 4th quarter. Truvestments Capital LLC now owns 3,834 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 2,339 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Benitec Biopharma in the 3rd quarter worth $79,000. JPMorgan Chase & Co. bought a new position in Benitec Biopharma during the 2nd quarter worth about $80,000. Finally, Bank of America Corp DE raised its stake in shares of Benitec Biopharma by 2,255.8% in the 2nd 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. 52.19% of the stock is currently owned by institutional investors and hedge funds.

About Benitec Biopharma

Benitec Biopharma Ltd NASDAQ: BNTC is a clinical-stage biotechnology company developing gene-silencing therapies for serious human diseases. The company's proprietary DNA-directed RNA interference (ddRNAi) platform is designed to enable sustained expression of small RNA molecules that specifically target and silence disease-causing genes. By integrating RNAi sequences directly into DNA constructs, ddRNAi aims to provide a long-term therapeutic effect from a single administration.

Benitec's lead programs include development of ddRNAi candidates for chronic hepatitis B virus infection and for certain ocular conditions.

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