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

Benitec Biopharma Inc. (NASDAQ:BNTC) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 62,300 shares, an increase of 65.7% from the December 15th total of 37,600 shares. Based on an average trading volume of 55,200 shares, the short-interest ratio is currently 1.1 days.

Benitec Biopharma Price Performance

BNTC traded down $0.05 during trading on Friday, reaching $11.02. 9,464 shares of the stock were exchanged, compared to its average volume of 44,943. The stock’s 50 day moving average price is $11.10 and its two-hundred day moving average price is $9.99. Benitec Biopharma has a twelve month low of $2.69 and a twelve month high of $13.29.

Insiders Place Their Bets

In related news, Director Suvretta Capital Management, L purchased 27,502 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $10.98 per share, with a total value of $301,971.96. Following the completion of the purchase, the director now owns 7,981,725 shares in the company, valued at $87,639,340.50. This represents a 0.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Benitec Biopharma

Institutional investors and hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC acquired a new stake in shares of Benitec Biopharma in the second quarter valued at approximately $5,881,000. Geode Capital Management LLC lifted its stake in shares of Benitec Biopharma by 31.3% during the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock worth $772,000 after buying an additional 20,012 shares during the last quarter. Simplify Asset Management Inc. boosted its holdings 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 worth $1,071,000 after buying an additional 65,319 shares during the period. Suvretta Capital Management LLC grew its stake in Benitec Biopharma by 422.0% in the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock valued at $81,139,000 after buying an additional 7,137,763 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Benitec Biopharma by 20.3% in the 3rd quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 1,102 shares during the period. 52.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BNTC. HC Wainwright assumed coverage on shares of Benitec Biopharma in a research note on Monday, December 16th. They issued a “buy” rating and a $28.00 target price for the company. Baird R W upgraded Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. Oppenheimer initiated coverage on Benitec Biopharma in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Benitec Biopharma in a research report on Friday, October 18th. Finally, Robert W. Baird initiated coverage on shares of Benitec Biopharma in a report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $24.43.

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.