Benitec Biopharma (NASDAQ:BNTC) Releases Earnings Results, Misses Estimates By $0.03 EPS

Benitec Biopharma (NASDAQ:BNTC) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03), Zacks reports.

Benitec Biopharma Stock Performance

NASDAQ BNTC traded down $0.71 during trading hours on Friday, hitting $10.63. The company had a trading volume of 81,262 shares, compared to its average volume of 125,397. The firm has a market capitalization of $364.18 million, a price-to-earnings ratio of -8.79 and a beta of 0.26. Benitec Biopharma has a 52 week low of $9.80 and a 52 week high of $17.15. The firm has a 50 day simple moving average of $12.35 and a 200 day simple moving average of $13.16.

Insider Activity

In other news, Director Suvretta Capital Management, L acquired 77,387 shares of Benitec Biopharma stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average price of $13.44 per share, with a total value of $1,040,081.28. Following the completion of the purchase, the director owned 9,700,195 shares in the company, valued at approximately $130,370,620.80. The trade was a 0.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders have bought 190,364 shares of company stock valued at $2,442,105 over the last quarter. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Benitec Biopharma

A number of hedge funds have recently made changes to their positions in BNTC. BNP Paribas Financial Markets raised its stake in shares of Benitec Biopharma by 44.5% during the third quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 904 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Benitec Biopharma during the 3rd quarter valued at about $79,000. JPMorgan Chase & Co. bought a new position in Benitec Biopharma during the 2nd quarter valued at approximately $80,000. Bank of America Corp DE lifted its holdings in Benitec Biopharma by 2,255.8% in the 2nd quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company’s stock worth $80,000 after buying an additional 6,587 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Benitec Biopharma in the 2nd quarter worth approximately $93,000. 52.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BNTC has been the subject of a number of recent analyst reports. Citizens Jmp increased their price target on Benitec Biopharma from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 4th. Zacks Research upgraded shares of Benitec Biopharma from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Citigroup reissued an “outperform” rating on shares of Benitec Biopharma in a research report on Tuesday, November 4th. JMP Securities set a $22.00 price objective on shares of Benitec Biopharma in a report on Tuesday, November 4th. Finally, HC Wainwright set a $32.00 target price on shares of Benitec Biopharma and gave the stock a “buy” rating in a research note on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.25.

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.