Benitec Biopharma Inc. (NASDAQ:BNTC) Given Average Rating of “Buy” by Brokerages

Benitec Biopharma Inc. (NASDAQ:BNTC) has received a consensus rating of “Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $24.43.

Several equities research analysts have weighed in on BNTC shares. Baird R W upgraded shares of Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. Oppenheimer started coverage on Benitec Biopharma in a research note on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price objective on the stock. Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a research note on Friday, October 18th. Guggenheim reaffirmed a “buy” rating and set a $17.00 price target on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Finally, Robert W. Baird initiated coverage on Benitec Biopharma in a research report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price objective for the company.

Insider Buying and Selling

In other Benitec Biopharma news, Director Suvretta Capital Management, L purchased 27,502 shares of the 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 purchase, the director now owns 7,981,725 shares of the company’s stock, valued at approximately $87,639,340.50. This represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Benitec Biopharma

A number of large investors have recently modified their holdings of BNTC. GAMMA Investing LLC increased its holdings 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 buying an additional 1,102 shares during the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 20,012 shares during the period. Acuta Capital Partners LLC acquired a new position in shares of Benitec Biopharma during the 3rd quarter worth about $274,000. Simplify Asset Management Inc. raised its holdings in shares of Benitec Biopharma by 127.5% in the 3rd 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 during the period. Finally, Nantahala Capital Management LLC bought a new stake in shares of Benitec Biopharma in the 2nd quarter valued at about $5,881,000. 52.19% of the stock is currently owned by institutional investors and hedge funds.

Benitec Biopharma Price Performance

Benitec Biopharma stock opened at $10.72 on Friday. The company’s 50 day simple moving average is $11.10 and its 200 day simple moving average is $10.06. Benitec Biopharma has a fifty-two week low of $2.70 and a fifty-two week high of $13.29.

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.