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

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC) have earned a consensus recommendation of “Buy” from the nine research firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $24.43.

Several equities research analysts have recently commented on the company. Oppenheimer assumed coverage on Benitec Biopharma in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 target price for the company. Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a research note on Friday, October 18th. Baird R W raised Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. HC Wainwright began coverage on Benitec Biopharma in a research note on Monday, December 16th. They issued a “buy” rating and a $28.00 target price for the company. Finally, JMP Securities lifted their price objective on Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Monday, October 14th.

Benitec Biopharma Price Performance

NASDAQ BNTC opened at $10.76 on Friday. The stock has a fifty day moving average of $11.14 and a 200-day moving average of $10.09. Benitec Biopharma has a 52 week low of $2.70 and a 52 week high of $13.29.

Insiders Place Their Bets

In other Benitec Biopharma news, Director Suvretta Capital Management, L bought 27,502 shares of Benitec Biopharma stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $10.98 per share, for a total transaction of $301,971.96. Following the completion of the acquisition, the director now owns 7,981,725 shares in the company, valued at approximately $87,639,340.50. The trade was a 0.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BNTC. Suvretta Capital Management LLC lifted its holdings in 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 worth $81,139,000 after acquiring an additional 7,137,763 shares in the last quarter. Nantahala Capital Management LLC bought a new position in Benitec Biopharma during the second quarter worth about $5,881,000. Simplify Asset Management Inc. lifted its holdings in shares of Benitec Biopharma by 127.5% in the third 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 in the last quarter. Acuta Capital Partners LLC bought a new stake in shares of Benitec Biopharma in the third quarter valued at about $274,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Benitec Biopharma by 31.3% in the third quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock valued at $772,000 after purchasing an additional 20,012 shares in the last quarter. 52.19% of the stock is currently owned by institutional investors.

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.