Benitec Biopharma Inc. (NASDAQ:BNTC) Receives $24.43 Average PT from Brokerages

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

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

Insider Activity

In other Benitec Biopharma news, Director Suvretta Capital Management, L acquired 27,502 shares of Benitec Biopharma stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average price of $10.98 per share, with a total value of $301,971.96. Following the completion of the purchase, the director now directly owns 7,981,725 shares in the company, valued at $87,639,340.50. This trade represents a 0.35 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Suvretta Capital Management LLC increased its stake in shares of Benitec Biopharma by 422.0% in 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 buying an additional 7,137,763 shares during the period. Nantahala Capital Management LLC acquired a new stake in Benitec Biopharma during the 2nd quarter valued at approximately $5,881,000. Simplify Asset Management Inc. raised its holdings 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 purchasing an additional 65,319 shares during the last quarter. Acuta Capital Partners LLC acquired a new position in shares of Benitec Biopharma in the 3rd quarter worth approximately $274,000. Finally, 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 purchasing an additional 20,012 shares during the last quarter. 52.19% of the stock is owned by institutional investors.

Benitec Biopharma Stock Up 0.2 %

BNTC opened at $12.10 on Monday. The stock has a market capitalization of $280.91 million, a price-to-earnings ratio of -4.26 and a beta of 0.89. Benitec Biopharma has a twelve month low of $2.69 and a twelve month high of $13.29. The company has a 50-day simple moving average of $11.05 and a 200 day simple moving average of $9.74.

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.