Benitec Biopharma (NASDAQ:BNTC) Stock Price Passes Below Fifty Day Moving Average - Should You Sell?

Key Points

• Benitec Biopharma's stock has fallen below its fifty-day moving average of $12.71, recently trading as low as $12.34.
• Analysts generally have a positive outlook, with a consensus target price of $26.00 and multiple "buy" ratings, including a target of $28.00 from HC Wainwright.
• Institutional investors own 52.19% of Benitec Biopharma, with significant stakes acquired by multiple hedge funds in recent months.

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 $12.71 and traded as low as $12.34. Benitec Biopharma shares last traded at $12.88, with a volume of 22,874 shares.

Wall Street Analyst Weigh In

BNTC has been the topic of several recent analyst reports. HC Wainwright restated a "buy" rating and set a $28.00 target price on shares of Benitec Biopharma in a research report on Monday, May 19th. TD Cowen initiated coverage on shares of Benitec Biopharma in a research report on Monday, July 7th. They set a "buy" rating on the stock. Finally, JMP Securities restated a "market outperform" rating and set a $20.00 target price on shares of Benitec Biopharma in a research report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $26.00.

Benitec Biopharma Stock Up 2.5%

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 firm has a market cap of $338.10 million, a PE ratio of -8.53 and a beta of 0.40. The firm's 50 day moving average is $12.71 and its 200-day moving average is $13.10.

Hedge Funds Weigh In On Benitec Biopharma

A number of large investors have recently bought and sold shares of BNTC. Janus Henderson Group PLC raised its stake in shares of Benitec Biopharma by 198.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company's stock valued at $33,268,000 after acquiring an additional 1,739,904 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Benitec Biopharma by 134.4% in the 4th 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 acquiring an additional 1,131,129 shares during the period. Infinitum Asset Management LLC raised its stake in shares of Benitec Biopharma by 435.7% in the 1st quarter. Infinitum Asset Management LLC now owns 1,125,000 shares of the biotechnology company's stock valued at $14,636,000 after acquiring an additional 915,000 shares during the period. Geode Capital Management LLC raised its stake in shares of Benitec Biopharma by 77.6% in the 2nd quarter. Geode Capital Management LLC now owns 415,211 shares of the biotechnology company's stock valued at $4,859,000 after acquiring an additional 181,391 shares during the period. Finally, Suvretta Capital Management LLC raised its stake in shares of Benitec Biopharma by 1.5% in the 4th quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company's stock valued at $113,165,000 after acquiring an additional 130,956 shares during the period. Hedge funds and other institutional investors own 52.19% of the company's stock.

About Benitec Biopharma

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.

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