Benitec Biopharma (NASDAQ:BNTC) Shares Pass Above Fifty Day Moving Average – Should You Sell?

Benitec Biopharma Limited (NASDAQ:BNTC)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.67 and traded as high as $12.26. Benitec Biopharma shares last traded at $12.01, with a volume of 147,930 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BNTC. Weiss Ratings restated a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Wednesday, January 21st. HC Wainwright reiterated a “buy” rating and issued a $32.00 target price on shares of Benitec Biopharma in a research note on Monday, March 9th. TD Cowen reissued a “buy” rating on shares of Benitec Biopharma in a report on Monday, March 9th. Finally, Wall Street Zen lowered shares of Benitec Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.67.

Benitec Biopharma Stock Performance

The stock has a market cap of $401.21 million, a P/E ratio of -10.25 and a beta of 0.31. The stock has a 50-day moving average price of $11.65 and a 200-day moving average price of $13.00.

Benitec Biopharma (NASDAQ:BNTC) last posted its quarterly earnings data on Thursday, February 12th. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.03). Sell-side analysts forecast that Benitec Biopharma Limited will post -1.48 earnings per share for the current fiscal year.

Insider Activity at Benitec Biopharma

In related news, Director Suvretta Capital Management, L acquired 77,387 shares of the stock in a transaction dated Monday, December 29th. The shares were purchased at an average price of $13.44 per share, for a total transaction of $1,040,081.28. Following the transaction, the director owned 9,700,195 shares in the company, valued at $130,370,620.80. This represents a 0.80% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have acquired 190,364 shares of company stock valued at $2,442,105. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in Benitec Biopharma during the second quarter valued at about $38,000. BNP Paribas Financial Markets lifted its stake in Benitec Biopharma by 44.5% during the third quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 904 shares during the last quarter. Truvestments Capital LLC boosted its holdings in shares of Benitec Biopharma by 156.5% in the 4th quarter. Truvestments Capital LLC now owns 3,834 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 2,339 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Benitec Biopharma in the 3rd quarter worth about $79,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Benitec Biopharma during the 2nd quarter valued at about $80,000. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

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.