Short Interest in Benitec Biopharma Inc. (NASDAQ:BNTC) Increases By 65.7%

Benitec Biopharma Inc. (NASDAQ:BNTC) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 62,300 shares, an increase of 65.7% from the December 15th total of 37,600 shares. Based on an average trading volume of 55,200 shares, the short-interest ratio is presently 1.1 days.

Insider Buying and Selling

In other news, Director Suvretta Capital Management, L bought 27,502 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $10.98 per share, with a total value of $301,971.96. Following the transaction, the director now directly owns 7,981,725 shares in the company, valued at approximately $87,639,340.50. This trade represents a 0.35 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Benitec Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNTC. GAMMA Investing LLC boosted its position in shares of Benitec Biopharma by 20.3% in the third quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 1,102 shares during the period. Geode Capital Management LLC raised its stake in Benitec Biopharma by 31.3% during 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. Acuta Capital Partners LLC bought a new stake in Benitec Biopharma in the 3rd quarter valued at $274,000. Simplify Asset Management Inc. acquired a new stake in Benitec Biopharma in the 2nd quarter worth $358,000. Finally, Nantahala Capital Management LLC bought a new position in shares of Benitec Biopharma during the 2nd quarter worth about $5,881,000. Institutional investors and hedge funds own 52.19% of the company’s stock.

Benitec Biopharma Trading Down 0.9 %

Shares of NASDAQ:BNTC traded down $0.10 during midday trading on Friday, hitting $10.97. The company’s stock had a trading volume of 9,677 shares, compared to its average volume of 45,001. Benitec Biopharma has a fifty-two week low of $2.69 and a fifty-two week high of $13.29. The stock’s 50 day simple moving average is $11.10 and its 200 day simple moving average is $9.99.

Wall Street Analysts Forecast Growth

BNTC has been the topic of a number of research reports. JMP Securities increased their price objective on Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a report on Monday, October 14th. HC Wainwright began coverage on shares of Benitec Biopharma in a research note on Monday, December 16th. They set a “buy” rating and a $28.00 price target on the stock. Oppenheimer assumed coverage on shares of Benitec Biopharma in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price objective for the company. Robert W. Baird started coverage on shares of Benitec Biopharma in a research report on Friday, December 13th. They set an “outperform” rating and a $30.00 target price on the stock. Finally, Baird R W raised Benitec Biopharma to a “strong-buy” rating in a research report on Thursday, December 12th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $24.43.

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.