Benitec Biopharma (NASDAQ:BNTC) Issues Earnings Results, Beats Expectations By $0.03 EPS

Benitec Biopharma (NASDAQ:BNTC) issued its quarterly earnings data on Thursday. The biotechnology company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.03, FiscalAI reports.

Benitec Biopharma Price Performance

NASDAQ BNTC traded down $0.36 during trading on Friday, hitting $11.49. The company’s stock had a trading volume of 103,035 shares, compared to its average volume of 103,029. The company has a market cap of $394.68 million, a PE ratio of -10.08 and a beta of 0.28. The business’s 50 day simple moving average is $11.84 and its 200-day simple moving average is $12.31. Benitec Biopharma has a fifty-two week low of $9.85 and a fifty-two week high of $17.15.

Institutional Investors Weigh In On Benitec Biopharma

Several institutional investors have recently added to or reduced their stakes in BNTC. RA Capital Management L.P. acquired a new stake in Benitec Biopharma in the fourth quarter worth about $24,920,000. Suvretta Capital Management LLC boosted its holdings in Benitec Biopharma by 16.9% in the fourth quarter. Suvretta Capital Management LLC now owns 11,548,351 shares of the biotechnology company’s stock worth $155,556,000 after acquiring an additional 1,671,845 shares in the last quarter. Siren L.L.C. acquired a new stake in Benitec Biopharma in the fourth quarter worth about $10,439,000. Alyeska Investment Group L.P. acquired a new stake in Benitec Biopharma in the fourth quarter worth about $10,102,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Benitec Biopharma in the fourth quarter worth about $8,776,000. Institutional investors and hedge funds own 52.19% of the company’s stock.

Analyst Ratings Changes

BNTC has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Benitec Biopharma in a research report on Monday, March 9th. TD Cowen reaffirmed a “buy” rating on shares of Benitec Biopharma in a research report on Monday, March 9th. Evercore initiated coverage on Benitec Biopharma in a research report on Tuesday. They set an “outperform” rating and a $25.00 price objective on the stock. Wall Street Zen raised Benitec Biopharma from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Benitec Biopharma Company Profile

Benitec Biopharma Ltd (NASDAQ: BNTC) is a clinical-stage biotechnology company developing gene-silencing therapies for serious human diseases. The company’s proprietary DNA-directed RNA interference (ddRNAi) platform is designed to enable sustained expression of small RNA molecules that specifically target and silence disease-causing genes. By integrating RNAi sequences directly into DNA constructs, ddRNAi aims to provide a long-term therapeutic effect from a single administration.

Benitec’s lead programs include development of ddRNAi candidates for chronic hepatitis B virus infection and for certain ocular conditions.