Simplify Asset Management Inc. Makes New $358,000 Investment in Benitec Biopharma Inc. (NASDAQ:BNTC)

Simplify Asset Management Inc. purchased a new stake in Benitec Biopharma Inc. (NASDAQ:BNTC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 51,216 shares of the biotechnology company’s stock, valued at approximately $358,000.

Separately, GAMMA Investing LLC lifted its holdings in Benitec Biopharma by 53.0% in the second quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 1,884 shares during the period. Hedge funds and other institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Stock Performance

NASDAQ BNTC opened at $8.63 on Friday. The firm has a market cap of $80.80 million, a price-to-earnings ratio of -4.70 and a beta of 0.90. The company has a 50-day simple moving average of $8.96 and a two-hundred day simple moving average of $7.71. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 0.01. Benitec Biopharma Inc. has a 12-month low of $2.69 and a 12-month high of $10.88.

Wall Street Analysts Forecast Growth

BNTC has been the topic of a number of recent research reports. Guggenheim assumed coverage on Benitec Biopharma in a report on Thursday, September 12th. They issued a “buy” rating and a $17.00 target price on the stock. Leerink Partners assumed coverage on shares of Benitec Biopharma in a research note on Monday, July 22nd. They set an “outperform” rating and a $13.00 price objective for the company. Leerink Partnrs upgraded Benitec Biopharma to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Piper Sandler started coverage on shares of Benitec Biopharma in a research report on Thursday, June 13th. They issued an “overweight” rating and a $30.00 price objective on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $19.00.

Benitec Biopharma 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.