Benitec Biopharma (NASDAQ:BNTC) Stock Passes Below 50 Day Moving Average of $7.93

Benitec Biopharma Inc. (NASDAQ:BNTC) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $7.93 and traded as low as $6.81. Benitec Biopharma shares last traded at $6.99, with a volume of 14,532 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BNTC shares. JMP Securities increased their price target on shares of Benitec Biopharma from $10.00 to $16.00 and gave the stock a “market outperform” rating in a research note on Monday, April 22nd. Piper Sandler assumed coverage on shares of Benitec Biopharma in a research note on Thursday, June 13th. They issued an “overweight” rating and a $30.00 target price on the stock.

Benitec Biopharma Stock Down 0.9 %

The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $7.93 and its two-hundred day simple moving average is $5.37.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings data on Monday, May 13th. The biotechnology company reported ($1.64) EPS for the quarter. On average, equities research analysts expect that Benitec Biopharma Inc. will post -7.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Benitec Biopharma

An institutional investor recently bought a new position in Benitec Biopharma stock. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Benitec Biopharma Inc. (NASDAQ:BNTC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 189,188 shares of the biotechnology company’s stock, valued at approximately $572,000. Adage Capital Partners GP L.L.C. owned about 7.42% of Benitec Biopharma as of its most recent SEC filing. 52.19% of the stock is currently owned by institutional investors and hedge funds.

Benitec Biopharma Company Profile

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.