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

Benitec Biopharma Inc. (NASDAQ:BNTC) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 53,100 shares, a drop of 10.2% from the September 15th total of 59,100 shares. Based on an average trading volume of 26,700 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Guggenheim started coverage on shares of Benitec Biopharma in a report on Thursday, September 12th. They issued a “buy” rating and a $17.00 target price for the company. Leerink Partners began coverage on shares of Benitec Biopharma in a research report on Monday, July 22nd. They set an “outperform” rating and a $13.00 target price for the company. Leerink Partnrs raised shares of Benitec Biopharma to a “strong-buy” rating in a report on Monday, July 22nd. Finally, JMP Securities increased their price objective on Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Benitec Biopharma has an average rating of “Buy” and a consensus price target of $19.50.

Benitec Biopharma Price Performance

Benitec Biopharma stock traded down $0.38 during mid-day trading on Tuesday, reaching $9.78. 37,672 shares of the company traded hands, compared to its average volume of 46,763. The firm’s fifty day moving average is $9.09 and its two-hundred day moving average is $8.29. The company has a market capitalization of $91.62 million, a price-to-earnings ratio of -5.32 and a beta of 0.90. Benitec Biopharma has a fifty-two week low of $2.69 and a fifty-two week high of $12.89.

Hedge Funds Weigh In On Benitec Biopharma

Several hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in Benitec Biopharma by 35.5% during the 1st quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock valued at $1,266,000 after purchasing an additional 64,092 shares during the last quarter. GAMMA Investing LLC boosted its position 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 last quarter. Simplify Asset Management Inc. purchased a new stake in Benitec Biopharma in the second quarter valued at approximately $358,000. Finally, Nantahala Capital Management LLC acquired a new position in Benitec Biopharma in the 2nd quarter worth approximately $5,881,000. 52.19% of the stock is owned by institutional investors and hedge funds.

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.