Benitec Biopharma (NASDAQ:BNTC) Coverage Initiated by Analysts at Robert W. Baird

Equities researchers at Robert W. Baird initiated coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $30.00 price target on the biotechnology company’s stock. Robert W. Baird’s price target indicates a potential upside of 154.89% from the company’s current price.

Other research analysts have also issued research reports about the company. JMP Securities boosted their target price on Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Guggenheim reissued a “buy” rating and issued a $17.00 target price on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Oppenheimer began coverage on Benitec Biopharma in a report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 target price on the stock. Finally, Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $23.83.

Benitec Biopharma Stock Down 4.7 %

BNTC opened at $11.77 on Friday. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $13.22. The business’s 50 day moving average is $10.55 and its two-hundred day moving average is $9.27.

Insider Buying and Selling

In other news, Director Suvretta Capital Management, L bought 42,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $9.60 per share, for a total transaction of $403,200.00. Following the completion of the transaction, the director now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Benitec Biopharma

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 20,012 shares during the last quarter. Suvretta Capital Management LLC grew its holdings 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 valued at $81,139,000 after purchasing an additional 7,137,763 shares during the last quarter. Acuta Capital Partners LLC acquired a new stake in Benitec Biopharma in the third quarter valued at $274,000. Simplify Asset Management Inc. grew its holdings in Benitec Biopharma by 127.5% in the third 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 during the last quarter. Finally, GAMMA Investing LLC grew its holdings in 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 purchasing an additional 1,102 shares during the last quarter. Institutional investors and hedge funds own 52.19% of the company’s stock.

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.