Short Interest in Benitec Biopharma Inc. (NASDAQ:BNTC) Rises By 49.0%

Benitec Biopharma Inc. (NASDAQ:BNTC) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 56,900 shares, a growth of 49.0% from the October 15th total of 38,200 shares. Based on an average daily volume of 28,900 shares, the short-interest ratio is currently 2.0 days.

Hedge Funds Weigh In On Benitec Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BNTC. Nantahala Capital Management LLC bought a new stake in shares of Benitec Biopharma during the 2nd quarter worth $5,881,000. Simplify Asset Management Inc. lifted its position in Benitec Biopharma by 127.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock worth $1,071,000 after acquiring an additional 65,319 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Benitec Biopharma by 35.5% during the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock valued at $1,266,000 after acquiring an additional 64,092 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Benitec Biopharma by 53.0% in the second quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,884 shares during the last quarter. Institutional investors and hedge funds own 52.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BNTC. Leerink Partners began coverage on Benitec Biopharma in a report on Monday, July 22nd. They set an “outperform” rating and a $13.00 price target on the stock. JMP Securities upped their target price on Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Guggenheim initiated coverage on shares of Benitec Biopharma in a research report on Thursday, September 12th. They set a “buy” rating and a $17.00 price objective on the stock. Oppenheimer assumed coverage on shares of Benitec Biopharma in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Leerink Partnrs upgraded Benitec Biopharma to a “strong-buy” rating in a report on Monday, July 22nd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $22.60.

Benitec Biopharma Price Performance

Shares of NASDAQ BNTC opened at $10.44 on Thursday. The business’s 50-day simple moving average is $9.85 and its 200-day simple moving average is $9.01. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $12.89.

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.