Benitec Biopharma (NASDAQ:BNTC) Stock Crosses Below Fifty Day Moving Average – Should You Sell?

Benitec Biopharma Inc. (NASDAQ:BNTC)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.09 and traded as low as $10.75. Benitec Biopharma shares last traded at $11.06, with a volume of 25,557 shares.

Analysts Set New Price Targets

A number of brokerages have recently commented on BNTC. Guggenheim reiterated a “buy” rating and issued a $17.00 target price on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Oppenheimer assumed coverage on Benitec Biopharma in a research report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price objective on the stock. Piper Sandler restated an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. JMP Securities lifted their target price on shares of Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Monday, October 14th. Finally, HC Wainwright began coverage on shares of Benitec Biopharma in a research note on Monday, December 16th. They issued a “buy” rating and a $28.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $24.43.

Benitec Biopharma Stock Performance

The business’s 50 day moving average price is $11.09 and its 200-day moving average price is $9.85. The firm has a market capitalization of $256.77 million, a PE ratio of -3.89 and a beta of 0.82.

Insider Activity at Benitec Biopharma

In related news, Director Suvretta Capital Management, L acquired 42,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $9.60 per share, for a total transaction of $403,200.00. Following the purchase, the director now owns 7,957,365 shares of the company’s stock, valued at $76,390,704. This represents a 0.53 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Benitec Biopharma

A number of institutional investors have recently bought and sold shares of the business. Suvretta Capital Management LLC raised its stake in Benitec Biopharma by 422.0% during the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after acquiring an additional 7,137,763 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Benitec Biopharma in the 2nd quarter valued at approximately $5,881,000. Simplify Asset Management Inc. raised its stake in shares of Benitec Biopharma by 127.5% during the third quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock worth $1,071,000 after purchasing an additional 65,319 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Benitec Biopharma by 31.3% during the third quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock worth $772,000 after purchasing an additional 20,012 shares during the last quarter. Finally, Acuta Capital Partners LLC acquired a new stake in shares of Benitec Biopharma during the third quarter worth $274,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

About Benitec Biopharma

Benitec Biopharma Inc, a clinical-stage biotechnology company, focuses on the development of novel genetic medicines. The company develops DNA-directed RNA interference-based therapeutics for chronic and life-threatening human conditions. It is developing BB-301, an adeno-associated virus based gene therapy agent for treating oculopharyngeal muscular dystrophy.