Brokerages Set Benitec Biopharma Inc. (NASDAQ:BNTC) Target Price at $24.43

Benitec Biopharma Inc. (NASDAQ:BNTC) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $24.43.

A number of research firms have commented on BNTC. Oppenheimer initiated coverage on shares of Benitec Biopharma in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price target for the company. Baird R W raised Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. HC Wainwright assumed coverage on shares of Benitec Biopharma in a research report on Monday, December 16th. They set a “buy” rating and a $28.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Finally, Guggenheim reiterated a “buy” rating and issued a $17.00 price objective on shares of Benitec Biopharma in a report on Tuesday, December 3rd.

Benitec Biopharma Stock Up 0.3 %

Benitec Biopharma stock opened at $10.75 on Friday. The business has a 50-day simple moving average of $11.10 and a 200 day simple moving average of $10.08. Benitec Biopharma has a 52 week low of $2.70 and a 52 week high of $13.29. The stock has a market cap of $249.62 million, a price-to-earnings ratio of -2.59 and a beta of 0.82.

Insider Activity at Benitec Biopharma

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 stock was acquired at an average cost of $9.60 per share, with a total value of $403,200.00. Following the completion of the acquisition, the director now owns 7,957,365 shares of the company’s stock, valued at approximately $76,390,704. This represents a 0.53 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Benitec Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC bought a new stake in Benitec Biopharma during the second quarter valued at about $5,881,000. GAMMA Investing LLC raised its position in shares of Benitec Biopharma by 20.3% during 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 during the period. Simplify Asset Management Inc. lifted its stake in shares of Benitec Biopharma by 127.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock valued at $1,071,000 after buying an additional 65,319 shares in the last quarter. Acuta Capital Partners LLC bought a new position in Benitec Biopharma in the 3rd quarter worth $274,000. Finally, Suvretta Capital Management LLC lifted its position in shares of 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 acquiring an additional 7,137,763 shares in the last quarter. 52.19% of the stock is owned by institutional investors.

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.