Benitec Biopharma (NASDAQ:BNTC) Stock Price Passes Above Fifty Day Moving Average - What's Next?

Key Points

• Benitec Biopharma shares moved above their 50-day moving average, trading as high as $13.37 and last changing hands at $12.98. The stock had a 50-day average of $11.93 and saw volume of 65,265 shares.
• Analyst sentiment is mixed but leans positive overall, with MarketBeat showing an average rating of Moderate Buy and a consensus price target of $27.00. Recent calls included downgrades from Wall Street Zen and Guggenheim, while Evercore initiated coverage with an outperform rating and a $25 target.
• The company beat quarterly EPS estimates, reporting ($0.24) versus the expected ($0.27). Benitec is a clinical-stage biotech focused on gene-silencing therapies, including programs for chronic hepatitis B and certain ocular conditions.

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 $11.93 and traded as high as $13.37. Benitec Biopharma shares last traded at $12.98, with a volume of 65,265 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BNTC shares. Wall Street Zen downgraded Benitec Biopharma from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. Evercore assumed coverage on shares of Benitec Biopharma in a research note on Tuesday, May 12th. They issued an "outperform" rating and a $25.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Benitec Biopharma in a report on Monday, April 20th. Finally, Guggenheim cut shares of Benitec Biopharma from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 10th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $27.00.

Benitec Biopharma Stock Down 0.1%

The stock has a market capitalization of $445.86 million, a price-to-earnings ratio of -11.39 and a beta of 0.25. The stock has a 50 day moving average price of $11.93 and a 200 day moving average price of $11.88.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. Sell-side analysts forecast that Benitec Biopharma Limited will post -1.04 earnings per share for the current fiscal year.

Institutional Trading of Benitec Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Suvretta Capital Management LLC lifted its holdings in Benitec Biopharma by 16.9% during the 4th quarter. Suvretta Capital Management LLC now owns 11,548,351 shares of the biotechnology company's stock worth $155,556,000 after buying an additional 1,671,845 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Benitec Biopharma by 7.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,120,672 shares of the biotechnology company's stock valued at $28,565,000 after buying an additional 148,148 shares during the period. RA Capital Management L.P. acquired a new stake in shares of Benitec Biopharma in the fourth quarter valued at about $24,920,000. Nantahala Capital Management LLC raised its position in shares of Benitec Biopharma by 23.9% during the fourth quarter. Nantahala Capital Management LLC now owns 1,038,371 shares of the biotechnology company's stock worth $13,987,000 after acquiring an additional 200,276 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Benitec Biopharma by 2.4% during the third quarter. Vanguard Group Inc. now owns 992,114 shares of the biotechnology company's stock worth $13,919,000 after acquiring an additional 22,948 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.