Benitec Biopharma (NASDAQ:BNTC) Shares Cross Above 50 Day Moving Average – What’s Next?

Benitec Biopharma Inc. (NASDAQ:BNTC) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $8.95 and traded as high as $9.77. Benitec Biopharma shares last traded at $9.46, with a volume of 49,353 shares traded.

Analysts Set New Price Targets

BNTC has been the subject of several research reports. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price objective on shares of Benitec Biopharma in a report on Monday, September 30th. Piper Sandler assumed coverage on Benitec Biopharma in a research note on Thursday, June 13th. They set an “overweight” rating and a $30.00 price target for the company. Guggenheim started coverage on shares of Benitec Biopharma in a research note on Thursday, September 12th. They issued a “buy” rating and a $17.00 price objective on the stock. Leerink Partners started coverage on shares of Benitec Biopharma in a research report on Monday, July 22nd. They set an “outperform” rating and a $13.00 target price for the company. Finally, Leerink Partnrs upgraded shares of Benitec Biopharma to a “strong-buy” rating in a research report on Monday, July 22nd. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $19.00.

Benitec Biopharma Trading Down 1.8 %

The business’s fifty day moving average price is $8.95 and its 200 day moving average price is $8.15. 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 firm has a market capitalization of $88.62 million, a PE ratio of -4.95 and a beta of 0.90.

Institutional Trading of Benitec Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Benitec Biopharma by 20.3% during the third quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 1,102 shares during the last quarter. Nantahala Capital Management LLC acquired a new stake in Benitec Biopharma in the 2nd quarter worth about $5,881,000. Simplify Asset Management Inc. acquired a new stake in Benitec Biopharma in the 2nd quarter worth about $358,000. Finally, Janus Henderson Group PLC grew its holdings in Benitec Biopharma by 35.5% in the 1st quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock valued at $1,266,000 after buying an additional 64,092 shares during the period. 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.