Benitec Biopharma (NASDAQ:BNTC) Shares Pass Below 50 Day Moving Average - Time to Sell?

Key Points

• Benitec Biopharma's stock price has fallen below its 50-day moving average of $13.47, trading as low as $11.30, and is currently at $11.52.
• Despite the recent price drop, the stock maintains a consensus buy rating from analysts, with seven analysts recommending to buy and a consensus price target of $26.00.
• Institutional investors have shown increased interest, with Ameriprise Financial raising its stake in Benitec Biopharma by 138.4% during the last quarter.

Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $13.47 and traded as low as $11.30. Benitec Biopharma shares last traded at $11.52, with a volume of 45,701 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BNTC. JMP Securities reissued a "market outperform" rating and issued a $20.00 price objective on shares of Benitec Biopharma in a research report on Thursday, May 15th. TD Cowen began coverage on Benitec Biopharma in a report on Monday, July 7th. They issued a "buy" rating on the stock. Finally, HC Wainwright restated a "buy" rating and set a $28.00 price objective on shares of Benitec Biopharma in a report on Monday, May 19th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $26.00.

Benitec Biopharma Price Performance

The company has a quick ratio of 14.80, a current ratio of 14.80 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $309.75 million, a PE ratio of -7.81 and a beta of 0.40. The stock's 50 day moving average price is $13.24 and its 200-day moving average price is $13.01.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BNTC. Geode Capital Management LLC increased its holdings in Benitec Biopharma by 134.7% during the 4th quarter. Geode Capital Management LLC now owns 197,096 shares of the biotechnology company's stock worth $2,490,000 after purchasing an additional 113,109 shares during the period. MYDA Advisors LLC purchased a new position in Benitec Biopharma during the 4th quarter worth $632,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Benitec Biopharma by 134.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company's stock valued at $24,913,000 after purchasing an additional 1,131,129 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Benitec Biopharma by 54.2% during the fourth 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 in the last quarter. Finally, 683 Capital Management LLC bought a new position in shares of Benitec Biopharma during the fourth quarter valued at approximately $452,000. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

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.