Benitec Biopharma (NASDAQ:BNTC) Share Price Crosses Above 50-Day Moving Average - Time to Sell?

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $12.73 and traded as high as $13.86. Benitec Biopharma shares last traded at $13.75, with a volume of 33,112 shares.

Analyst Ratings Changes

Several brokerages have commented on BNTC. HC Wainwright restated a "buy" rating and set a $28.00 target price on shares of Benitec Biopharma in a report on Monday, March 24th. JMP Securities increased their price objective on shares of Benitec Biopharma from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Thursday, April 10th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $24.71.

Benitec Biopharma Trading Down 0.3 %

The firm has a market capitalization of $322.45 million, a price-to-earnings ratio of -9.11 and a beta of 0.76. The company's 50 day moving average is $12.95 and its 200-day moving average is $11.61.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last issued its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.19. Research analysts expect that Benitec Biopharma Inc. will post -1.48 EPS for the current year.

Insider Transactions at Benitec Biopharma

In other news, Director Suvretta Capital Management, L acquired 900,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of $13.00 per share, with a total value of $11,700,000.00. Following the completion of the purchase, the director now directly owns 8,793,245 shares of the company's stock, valued at $114,312,185. The trade was a 11.40 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in Benitec Biopharma by 1,104.3% in the first quarter. GAMMA Investing LLC now owns 77,605 shares of the biotechnology company's stock valued at $1,010,000 after acquiring an additional 71,161 shares during the last quarter. Infinitum Asset Management LLC bought a new stake in shares of Benitec Biopharma during the fourth quarter worth $2,652,000. Suvretta Capital Management LLC grew its stake in shares of Benitec Biopharma by 1.5% during the fourth quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company's stock worth $113,165,000 after buying an additional 130,956 shares during the last quarter. Lion Point Capital LP grew its stake in shares of Benitec Biopharma by 59.0% during the fourth quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company's stock worth $783,000 after buying an additional 23,000 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Benitec Biopharma by 198.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company's stock worth $33,268,000 after buying an additional 1,739,904 shares during the last quarter. 52.19% of the stock is owned by 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.