Benitec Biopharma (NASDAQ:BNTC) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright initiated coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a research report report published on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $28.00 price objective on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the company. Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a research note on Friday, October 18th. Oppenheimer initiated coverage on Benitec Biopharma in a report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price target on the stock. JMP Securities upped their price objective on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Guggenheim restated a “buy” rating and set a $17.00 price objective on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Finally, Robert W. Baird began coverage on shares of Benitec Biopharma in a report on Friday. They issued an “outperform” rating and a $30.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $24.43.

Benitec Biopharma Price Performance

BNTC opened at $12.58 on Monday. The company’s 50 day simple moving average is $10.61 and its two-hundred day simple moving average is $9.32. Benitec Biopharma has a 1-year low of $2.69 and a 1-year high of $13.22.

Insider Activity

In other news, Director Suvretta Capital Management, L bought 42,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average cost of $9.60 per share, for a total transaction of $403,200.00. Following the acquisition, the director now directly owns 7,957,365 shares of the company’s stock, valued at $76,390,704. The trade was a 0.53 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of Benitec Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of BNTC. Geode Capital Management LLC raised its stake in shares of Benitec Biopharma by 31.3% in the third 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 in the last quarter. Suvretta Capital Management LLC increased its holdings in Benitec Biopharma by 422.0% during the 3rd 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 period. Acuta Capital Partners LLC purchased a new stake in Benitec Biopharma during the 3rd quarter worth about $274,000. Simplify Asset Management Inc. raised its position in 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 in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Benitec Biopharma by 20.3% in the 3rd quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 1,102 shares during the period. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

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.