Suvretta Capital Management, L Acquires 900,000 Shares of Benitec Biopharma Inc. (NASDAQ:BNTC) Stock

Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L acquired 900,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $11,700,000.00. Following the acquisition, the director now owns 8,793,245 shares in the company, valued at $114,312,185. The trade was a 11.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Benitec Biopharma Stock Performance

NASDAQ BNTC opened at $13.43 on Friday. Benitec Biopharma Inc. has a twelve month low of $4.75 and a twelve month high of $16.90. The stock has a market cap of $314.95 million, a PE ratio of -8.89 and a beta of 0.92. The firm has a 50-day simple moving average of $12.25 and a 200 day simple moving average of $11.13.

Benitec Biopharma (NASDAQ:BNTC) last announced its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.19. Research analysts forecast that Benitec Biopharma Inc. will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Suvretta Capital Management LLC raised its stake in shares of Benitec Biopharma by 422.0% in the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock valued at $81,139,000 after buying an additional 7,137,763 shares in the last quarter. Franklin Resources Inc. increased its stake in Benitec Biopharma by 269.0% in the fourth quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company’s stock valued at $37,123,000 after acquiring an additional 2,142,643 shares during the period. Janus Henderson Group PLC raised its position in Benitec Biopharma by 198.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock worth $33,268,000 after purchasing an additional 1,739,904 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Benitec Biopharma by 134.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company’s stock worth $24,913,000 after purchasing an additional 1,131,129 shares during the period. Finally, Infinitum Asset Management LLC acquired a new stake in Benitec Biopharma during the fourth quarter valued at approximately $2,652,000. 52.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Guggenheim reiterated a “buy” rating and set a $17.00 price target on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Baird R W upgraded shares of Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. HC Wainwright restated a “buy” rating and set a $28.00 price target on shares of Benitec Biopharma in a report on Monday, March 24th. Finally, Robert W. Baird initiated coverage on Benitec Biopharma in a research report on Friday, December 13th. They set an “outperform” rating and a $30.00 price objective for the company. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $24.43.

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.