Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Update

Benitec Biopharma Inc. (NASDAQ:BNTC) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 62,000 shares, a decline of 6.8% from the August 15th total of 66,500 shares. Based on an average trading volume of 29,200 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BNTC shares. Leerink Partnrs raised shares of Benitec Biopharma to a “strong-buy” rating in a research report on Monday, July 22nd. Piper Sandler initiated coverage on Benitec Biopharma in a research report on Thursday, June 13th. They set an “overweight” rating and a $30.00 price target for the company. Guggenheim assumed coverage on Benitec Biopharma in a research report on Thursday, September 12th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, Leerink Partners began coverage on Benitec Biopharma in a research note on Monday, July 22nd. They issued an “outperform” rating and a $13.00 price objective for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $19.00.

Benitec Biopharma Trading Up 3.2 %

Shares of BNTC stock opened at $8.63 on Friday. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. The firm has a market cap of $80.80 million, a P/E ratio of -4.70 and a beta of 0.90. The company has a 50 day moving average of $8.96 and a 200-day moving average of $7.71. Benitec Biopharma has a 12-month low of $2.69 and a 12-month high of $10.88.

Hedge Funds Weigh In On Benitec Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC purchased a new position in shares of Benitec Biopharma during the 2nd quarter valued at $5,881,000. Simplify Asset Management Inc. purchased a new stake in Benitec Biopharma during the second quarter valued at about $358,000. GAMMA Investing LLC boosted its position in Benitec Biopharma by 53.0% during the second quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 1,884 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Benitec Biopharma by 35.5% in the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock worth $1,266,000 after purchasing an additional 64,092 shares in the last quarter. 52.19% of the stock is owned by 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.