Benitec Biopharma (NASDAQ:BNTC) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Benitec Biopharma Limited (NASDAQ:BNTC)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $12.70 and traded as high as $13.19. Benitec Biopharma shares last traded at $12.88, with a volume of 191,439 shares changing hands.

Analyst Ratings Changes

BNTC has been the subject of several analyst reports. Guggenheim downgraded Benitec Biopharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 10th. Wall Street Zen upgraded Benitec Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Evercore assumed coverage on Benitec Biopharma in a research report on Tuesday, May 12th. They set an “outperform” rating and a $25.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Benitec Biopharma in a report on Friday, July 17th. Finally, Wedbush began coverage on shares of Benitec Biopharma in a research report on Tuesday, July 28th. They issued an “outperform” rating and a $16.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.80.

Benitec Biopharma Stock Performance

The business’s fifty day simple moving average is $12.69 and its 200 day simple moving average is $11.95. The stock has a market cap of $435.56 million, a price-to-earnings ratio of -11.12 and a beta of 0.27.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. California State Teachers Retirement System boosted its holdings in Benitec Biopharma by 241.4% in the second quarter. California State Teachers Retirement System now owns 3,639 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 2,573 shares during the last quarter. AWM Investment Company Inc. purchased a new stake in Benitec Biopharma during the 2nd quarter worth approximately $2,515,000. Bank of New York Mellon Corp acquired a new position in shares of Benitec Biopharma in the 2nd quarter valued at approximately $804,000. GAMMA Investing LLC boosted its stake in shares of Benitec Biopharma by 18.7% during the 2nd quarter. GAMMA Investing LLC now owns 7,961 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 1,256 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Benitec Biopharma by 43.3% during the 1st quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 5,251 shares during the last quarter. Institutional investors and hedge funds own 52.19% of the company’s stock.

Benitec Biopharma Company Profile

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.