Benitec Biopharma (NASDAQ:BNTC) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright started coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $28.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 137.89% from the stock’s current price.

Several other research firms also recently commented on BNTC. Guggenheim reiterated a “buy” rating and set a $17.00 target price on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. JMP Securities boosted their price objective on shares of Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Monday, October 14th. Robert W. Baird assumed coverage on Benitec Biopharma in a research report on Friday. They set an “outperform” rating and a $30.00 target price for the company. Oppenheimer initiated coverage on Benitec Biopharma in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price target on the stock. Finally, Piper Sandler restated an “overweight” rating on shares of Benitec Biopharma in a research report on Friday, October 18th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $24.43.

Benitec Biopharma Price Performance

NASDAQ BNTC opened at $11.77 on Monday. The business’s fifty day moving average is $10.55 and its 200 day moving average is $9.29. Benitec Biopharma has a twelve month low of $2.69 and a twelve month high of $13.22.

Insider Transactions at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 42,000 shares of Benitec Biopharma stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $9.60 per share, for a total transaction of $403,200.00. Following the purchase, the director now directly owns 7,957,365 shares in the company, valued at approximately $76,390,704. This represents a 0.53 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Suvretta Capital Management LLC lifted its position in shares of Benitec Biopharma by 422.0% during the third quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock valued at $81,139,000 after purchasing an additional 7,137,763 shares in the last quarter. Nantahala Capital Management LLC bought a new position in shares of Benitec Biopharma in the second quarter valued at approximately $5,881,000. Simplify Asset Management Inc. increased its position in shares of Benitec Biopharma by 127.5% during the third quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock valued at $1,071,000 after acquiring an additional 65,319 shares during the last quarter. Geode Capital Management LLC boosted its position in Benitec Biopharma by 31.3% in the third 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 last quarter. Finally, Acuta Capital Partners LLC bought a new position in Benitec Biopharma in the 3rd quarter valued at $274,000. 52.19% of the stock is owned by institutional investors.

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.