Benitec Biopharma Inc. (NASDAQ:BNTC) Receives Average Rating of “Buy” from Analysts

Benitec Biopharma Inc. (NASDAQ:BNTC) has received an average rating of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $24.43.

Several brokerages recently weighed in on BNTC. Robert W. Baird began coverage on Benitec Biopharma in a research report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price objective for the company. Oppenheimer initiated coverage on Benitec Biopharma in a research report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price objective for the company. JMP Securities upped their target price on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a research report on Monday, October 14th. HC Wainwright started coverage on shares of Benitec Biopharma in a research report on Monday, December 16th. They set a “buy” rating and a $28.00 price target for the company. Finally, Piper Sandler restated an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th.

Insider Buying and Selling at Benitec Biopharma

In other Benitec Biopharma news, Director Suvretta Capital Management, L acquired 27,502 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $10.98 per share, for a total transaction of $301,971.96. Following the acquisition, the director now owns 7,981,725 shares in the company, valued at $87,639,340.50. The trade was a 0.35 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Benitec Biopharma

Hedge funds have recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC lifted its position in shares of Benitec Biopharma by 422.0% during the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after buying an additional 7,137,763 shares during the last quarter. Nantahala Capital Management LLC purchased a new stake in Benitec Biopharma in the second quarter valued at $5,881,000. Simplify Asset Management Inc. lifted its holdings in shares of Benitec Biopharma by 127.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock valued at $1,071,000 after purchasing an additional 65,319 shares during the last quarter. Acuta Capital Partners LLC acquired a new stake in shares of Benitec Biopharma in the third quarter valued at approximately $274,000. Finally, Geode Capital Management LLC boosted its stake in Benitec Biopharma by 31.3% during the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock worth $772,000 after purchasing an additional 20,012 shares during the period. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

Benitec Biopharma Price Performance

Benitec Biopharma stock opened at $10.91 on Friday. The firm has a 50 day simple moving average of $11.16 and a 200-day simple moving average of $10.11. Benitec Biopharma has a 1-year low of $2.70 and a 1-year high of $13.29.

Benitec Biopharma Company Profile

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.