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

Key Points

• Benitec Biopharma shares fell below their 50-day moving average, trading as low as $8.61 versus the $11.73 average and last changing hands near $8.75.
• Analyst sentiment remains generally positive, with seven Buy ratings, two Holds, and one Sell; the stock carries a “Moderate Buy” consensus and an average price target of $24.00.
• The clinical-stage biotech reported an in-line quarterly loss of $0.26 per share, while institutional investors and hedge funds own approximately 52.19% of the stock.

Benitec Biopharma Limited (NASDAQ:BNTC - Get Free Report)'s stock price crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $11.73 and traded as low as $8.61. Benitec Biopharma shares last traded at $8.75, with a volume of 234,859 shares traded.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating on shares of Benitec Biopharma in a research note on Monday, September 28th. Wedbush boosted their target price on Benitec Biopharma from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Tuesday, September 15th. Wall Street Zen downgraded shares of Benitec Biopharma from a "hold" rating to a "sell" rating in a research report on Saturday, September 19th. Royal Bank Of Canada upgraded shares of Benitec Biopharma to an "outperform" rating in a report on Tuesday, September 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Benitec Biopharma in a research report on Friday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Benitec Biopharma presently has an average rating of "Moderate Buy" and an average price target of $24.00.

Benitec Biopharma Stock Performance

The stock has a market capitalization of $305.23 million, a price-to-earnings ratio of -8.93 and a beta of 0.25. The firm has a fifty day moving average of $11.73 and a 200-day moving average of $11.85.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last issued its quarterly earnings data on Monday, September 14th. The biotechnology company reported ($0.26) EPS for the quarter, hitting analysts' consensus estimates of ($0.26). On average, analysts predict that Benitec Biopharma Limited will post -1.31 EPS for the current year.

Hedge Funds Weigh In On Benitec Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Simplify Asset Management Inc. grew its stake in shares of Benitec Biopharma by 271.9% during the first quarter. Simplify Asset Management Inc. now owns 562,242 shares of the biotechnology company's stock valued at $5,988,000 after acquiring an additional 411,079 shares in the last quarter. AWM Investment Company Inc. acquired a new position in shares of Benitec Biopharma in the second quarter worth about $2,515,000. MYDA Advisors LLC lifted its stake in shares of Benitec Biopharma by 221.4% in the fourth quarter. MYDA Advisors LLC now owns 225,000 shares of the biotechnology company's stock worth $3,031,000 after acquiring an additional 155,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Benitec Biopharma in the second quarter worth about $804,000. Finally, Empery Asset Management LP purchased a new position in Benitec Biopharma in the fourth quarter valued at about $747,000. 52.19% of the stock is owned by institutional investors and hedge funds.

Benitec Biopharma Company Profile

Benitec Biopharma Limited NASDAQ: BNTC is a clinical-stage biotechnology company developing genetic medicines for chronic and potentially life-threatening diseases. The company's work is based on DNA-directed RNA interference (ddRNAi), a gene-silencing technology designed to produce sustained suppression of disease-causing genes within targeted cells.

Benitec's lead investigational product is BB-301, an adeno-associated virus gene therapy being developed for oculopharyngeal muscular dystrophy (OPMD), a rare inherited disorder that can cause progressive difficulty swallowing and weakness of the eyelid and throat muscles.

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