Benitec Biopharma (NASDAQ:BNTC) Shares Pass Above Fifty Day Moving Average of $8.85

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $8.85 and traded as high as $9.33. Benitec Biopharma shares last traded at $9.23, with a volume of 35,758 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Leerink Partnrs raised shares of Benitec Biopharma to a “strong-buy” rating in a research note on Monday, July 22nd. Leerink Partners assumed coverage on shares of Benitec Biopharma in a research note on Monday, July 22nd. They set an “outperform” rating and a $13.00 price target for the company. Piper Sandler initiated coverage on shares of Benitec Biopharma in a research note on Thursday, June 13th. They set an “overweight” rating and a $30.00 price target for the company. Finally, Guggenheim initiated coverage on shares of Benitec Biopharma in a research note on Thursday, September 12th. They set a “buy” rating and a $17.00 target price for the company. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $19.00.

Benitec Biopharma Stock Up 5.0 %

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 $8.85 and its 200 day simple moving average is $7.88.

Institutional Investors Weigh In On Benitec Biopharma

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Benitec Biopharma by 53.0% in the second quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 1,884 shares during the period. Simplify Asset Management Inc. acquired a new stake in Benitec Biopharma in the second quarter worth $358,000. Janus Henderson Group PLC grew its holdings in Benitec Biopharma by 35.5% in the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock worth $1,266,000 after purchasing an additional 64,092 shares during the period. Finally, Nantahala Capital Management LLC acquired a new position in shares of Benitec Biopharma during the second quarter valued at about $5,881,000. 52.19% of the stock is currently owned by institutional investors and hedge funds.

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.