Robert W. Baird Begins Coverage on Benitec Biopharma (NASDAQ:BNTC)

Robert W. Baird assumed coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a report issued on Friday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $30.00 price target on the biotechnology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 154.89% from the stock’s current price.

Other analysts also recently issued reports about the company. Guggenheim reaffirmed a “buy” rating and issued a $17.00 target price on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. Piper Sandler reaffirmed an “overweight” rating on shares of Benitec Biopharma in a research note on Friday, October 18th. Oppenheimer started 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. Finally, JMP Securities raised their target price 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. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $23.83.

Benitec Biopharma Price Performance

NASDAQ BNTC opened at $11.77 on Friday. The business has a fifty day moving average price of $10.55 and a 200 day moving average price of $9.27. Benitec Biopharma has a one year low of $2.69 and a one year high of $13.22.

Insider Activity at Benitec Biopharma

In related news, Director Suvretta Capital Management, L acquired 42,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $9.60 per share, for a total transaction of $403,200.00. Following the purchase, the director now owns 7,957,365 shares of the company’s stock, valued at $76,390,704. This represents a 0.53 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Benitec Biopharma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Benitec Biopharma by 31.3% in the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock valued at $772,000 after buying an additional 20,012 shares during the period. Suvretta Capital Management LLC lifted its stake 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 purchasing an additional 7,137,763 shares during the last quarter. Acuta Capital Partners LLC purchased a new stake in Benitec Biopharma during the third quarter worth approximately $274,000. Simplify Asset Management Inc. lifted its stake in Benitec Biopharma by 127.5% during the third quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock worth $1,071,000 after purchasing an additional 65,319 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Benitec Biopharma by 20.3% during the third quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 1,102 shares during the last quarter. Hedge funds and other institutional investors own 52.19% of the company’s stock.

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.