Insider Buying: Benitec Biopharma (NASDAQ:BNTC) Director Acquires 19,542 Shares of Stock

Benitec Biopharma Limited (NASDAQ:BNTC) Director Suvretta Capital Management, L purchased 19,542 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was bought at an average cost of $12.08 per share, with a total value of $236,067.36. Following the completion of the purchase, the director owned 9,577,475 shares of the company’s stock, valued at approximately $115,695,898. This represents a 0.20% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Suvretta Capital Management, L also recently made the following trade(s):

• On Friday, December 19th, Suvretta Capital Management, L acquired 16,384 shares of Benitec Biopharma stock. The shares were bought at an average cost of $11.48 per share, for a total transaction of $188,088.32.
• On Thursday, December 18th, Suvretta Capital Management, L bought 10,215 shares of Benitec Biopharma stock. The stock was purchased at an average cost of $11.24 per share, with a total value of $114,816.60.
• On Friday, November 7th, Suvretta Capital Management, L acquired 1,481,481 shares of Benitec Biopharma stock. The stock was purchased at an average cost of $13.50 per share, with a total value of $19,999,993.50.

Benitec Biopharma Stock Performance

Shares of NASDAQ BNTC traded up $0.85 during midday trading on Monday, hitting $12.35. 143,304 shares of the stock traded hands, compared to its average volume of 237,340. Benitec Biopharma Limited has a one year low of $9.70 and a one year high of $17.15. The business has a 50 day moving average price of $13.81 and a two-hundred day moving average price of $13.46. The company has a market cap of $418.17 million, a PE ratio of -10.21 and a beta of 0.20.

Benitec Biopharma (NASDAQ:BNTC) last posted its earnings results on Friday, November 14th. The biotechnology company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.13. As a group, equities research analysts forecast that Benitec Biopharma Limited will post -1.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Benitec Biopharma

Institutional investors and hedge funds have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey bought a new stake in Benitec Biopharma during the 2nd quarter worth approximately $38,000. BNP Paribas Financial Markets lifted its position in Benitec Biopharma by 44.5% in the third quarter. BNP Paribas Financial Markets now owns 2,937 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 904 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Benitec Biopharma during the third quarter valued at approximately $79,000. JPMorgan Chase & Co. bought a new position in shares of Benitec Biopharma in the second quarter worth approximately $80,000. Finally, Bank of America Corp DE increased its stake in shares of Benitec Biopharma by 2,255.8% in the second quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company’s stock worth $80,000 after buying an additional 6,587 shares during the period. 52.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. JMP Securities set a $22.00 price objective on shares of Benitec Biopharma in a report on Tuesday, November 4th. Citigroup restated an “outperform” rating on shares of Benitec Biopharma in a report on Tuesday, November 4th. Wall Street Zen upgraded shares of Benitec Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Zacks Research upgraded Benitec Biopharma from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Finally, HC Wainwright set a $32.00 price target on Benitec Biopharma and gave the stock a “buy” rating in a report on Monday, November 24th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Benitec Biopharma presently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

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.