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

Benitec Biopharma Inc. (NASDAQ:BNTC) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 35,400 shares, a growth of 6.9% from the November 15th total of 33,100 shares. Based on an average daily volume of 39,100 shares, the short-interest ratio is currently 0.9 days.

Insider Buying and Selling at Benitec Biopharma

In related news, Director Suvretta Capital Management, L bought 42,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was bought at an average cost of $9.60 per share, for a total transaction of $403,200.00. Following the purchase, the director now directly owns 7,957,365 shares of the company’s stock, valued at approximately $76,390,704. This trade represents a 0.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Suvretta Capital Management LLC increased its stake in Benitec Biopharma by 422.0% during the third quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after purchasing an additional 7,137,763 shares during the period. Nantahala Capital Management LLC purchased a new position in Benitec Biopharma in the second quarter valued at approximately $5,881,000. Simplify Asset Management Inc. increased its stake 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. Geode Capital Management LLC increased its stake 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. Finally, Acuta Capital Partners LLC purchased a new position in Benitec Biopharma in the third quarter valued at approximately $274,000. Institutional investors and hedge funds own 52.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JMP Securities lifted their target price on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. HC Wainwright assumed coverage on shares of Benitec Biopharma in a report on Monday. They set a “buy” rating and a $28.00 target price for the company. Oppenheimer assumed coverage on shares of Benitec Biopharma in a report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 target price for the company. Robert W. Baird assumed coverage on shares of Benitec Biopharma in a report on Friday. They set an “outperform” rating and a $30.00 target price for the company. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $24.43.

Benitec Biopharma Trading Up 2.0 %

NASDAQ BNTC traded up $0.24 during trading hours on Monday, reaching $12.01. The company had a trading volume of 17,789 shares, compared to its average volume of 45,863. The stock has a 50-day moving average of $10.55 and a 200 day moving average of $9.29. Benitec Biopharma has a 1-year low of $2.69 and a 1-year high of $13.22.

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.