Benitec Biopharma (NASDAQ:BNTC) Releases Quarterly Earnings Results, Hits Estimates

Benitec Biopharma (NASDAQ:BNTC) posted its quarterly earnings results on Monday. The biotechnology company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26), FiscalAI reports.

Benitec Biopharma Stock Down 0.1%

Shares of NASDAQ BNTC opened at $11.04 on Thursday. Benitec Biopharma has a twelve month low of $9.85 and a twelve month high of $16.76. The stock has a market cap of $385.08 million, a price-to-earnings ratio of -11.27 and a beta of 0.27. The company’s fifty day moving average is $12.52 and its 200-day moving average is $12.04.

Institutional Investors Weigh In On Benitec Biopharma

Institutional investors have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. acquired a new stake in Benitec Biopharma in the second quarter valued at $2,515,000. Bank of New York Mellon Corp bought a new stake in shares of Benitec Biopharma during the second quarter worth approximately $804,000. GAMMA Investing LLC grew its holdings in Benitec Biopharma by 18.7% in the 2nd quarter. GAMMA Investing LLC now owns 7,961 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 1,256 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Benitec Biopharma by 43.3% in the first quarter. Bank of America Corp DE now owns 17,376 shares of the biotechnology company’s stock valued at $185,000 after acquiring an additional 5,251 shares in the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in shares of Benitec Biopharma during the first quarter worth approximately $186,000. 52.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

BNTC has been the topic of several recent analyst reports. Guggenheim downgraded shares of Benitec Biopharma from a “buy” rating to a “neutral” rating in a report on Wednesday, June 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Benitec Biopharma in a report on Friday, July 17th. Wedbush raised their price target on Benitec Biopharma from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Tuesday. Wall Street Zen raised shares of Benitec Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Citigroup reiterated a “market outperform” rating on shares of Benitec Biopharma in a research report on Tuesday. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Benitec Biopharma has an average rating of “Moderate Buy” and an average target price of $24.00.

About Benitec Biopharma

Benitec Biopharma Inc (NASDAQ:BNTC) is a clinical-stage biotechnology company developing genetic medicines based on DNA-directed RNA interference (ddRNAi). The company’s technology is designed to enable long-lasting suppression of disease-causing genes by delivering genetic instructions that produce RNA interference molecules within targeted cells.

Benitec’s lead product candidate is BB-301, an investigational gene therapy being developed for oculopharyngeal muscular dystrophy type 1 (OPMD), a rare inherited disorder that can cause progressive weakness of the muscles involved in swallowing and eye movement.