Benitec Biopharma Inc. (NASDAQ:BNTC) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in Benitec Biopharma Inc. (NASDAQ:BNTC) by 31.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,987 shares of the biotechnology company’s stock after acquiring an additional 20,012 shares during the period. Geode Capital Management LLC’s holdings in Benitec Biopharma were worth $772,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BNTC. GAMMA Investing LLC boosted its holdings in 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 purchasing an additional 1,102 shares in the last quarter. Acuta Capital Partners LLC acquired a new stake in shares of Benitec Biopharma in the 3rd quarter valued at approximately $274,000. Simplify Asset Management Inc. purchased a new stake in shares of Benitec Biopharma in the second quarter valued at approximately $358,000. Nantahala Capital Management LLC acquired a new position in Benitec Biopharma during the second quarter worth $5,881,000. Finally, Suvretta Capital Management LLC raised its position in 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 worth $81,139,000 after acquiring an additional 7,137,763 shares in the last quarter. 52.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Suvretta Capital Management, L purchased 42,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average price 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 in the company, valued at $76,390,704. This trade represents a 0.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Benitec Biopharma Stock Performance

Shares of NASDAQ BNTC opened at $11.00 on Friday. The firm has a market cap of $255.38 million, a P/E ratio of -3.87 and a beta of 0.82. Benitec Biopharma Inc. has a 1 year low of $2.69 and a 1 year high of $13.29. The firm’s 50 day moving average price is $11.10 and its 200 day moving average price is $9.86.

Analysts Set New Price Targets

BNTC has been the topic of a number of research analyst reports. Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. HC Wainwright began coverage on Benitec Biopharma in a research note on Monday, December 16th. They set a “buy” rating and a $28.00 price target for the company. Oppenheimer assumed coverage on shares of Benitec Biopharma in a report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 target price for the company. JMP Securities upped their price target 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. Finally, Guggenheim reissued a “buy” rating and set a $17.00 price objective on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target 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.