Benitec Biopharma (NASDAQ:BNTC) Shares Pass Above Fifty Day Moving Average – What’s Next?

Benitec Biopharma Limited (NASDAQ:BNTC)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.48 and traded as high as $13.65. Benitec Biopharma shares last traded at $12.88, with a volume of 211,212 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Evercore assumed coverage on shares of Benitec Biopharma in a research report on Tuesday, May 12th. They set an “outperform” rating and a $25.00 target price on the stock. Wedbush started coverage on shares of Benitec Biopharma in a research note on Tuesday, July 28th. They issued an “outperform” rating and a $16.00 price target for the company. Wall Street Zen upgraded shares of Benitec Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Guggenheim cut shares of Benitec Biopharma from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Friday, July 17th. Seven 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.80.

Benitec Biopharma Stock Performance

The firm has a market capitalization of $446.89 million, a P/E ratio of -11.41 and a beta of 0.28. The firm has a 50 day simple moving average of $12.54 and a two-hundred day simple moving average of $11.88.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BNTC. BNP Paribas Financial Markets grew its position in Benitec Biopharma by 44.5% in the 3rd 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 in the last quarter. Truvestments Capital LLC grew its holdings in shares of Benitec Biopharma by 156.5% in the fourth quarter. Truvestments Capital LLC now owns 3,834 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 2,339 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Benitec Biopharma during the third quarter valued at approximately $79,000. JPMorgan Chase & Co. purchased a new stake in shares of Benitec Biopharma during the second quarter valued at approximately $80,000. Finally, Bank of America Corp DE lifted its holdings in Benitec Biopharma by 2,255.8% during the second quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 6,587 shares during the period. 52.19% of the stock is owned by institutional investors.

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.