Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Up 65.7% in December

Benitec Biopharma Inc. (NASDAQ:BNTC) was the target of a significant increase in short interest during the month of 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.

Insider Transactions at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 27,502 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $10.98 per share, with a total value of $301,971.96. Following the completion of the transaction, the director now directly owns 7,981,725 shares in the company, valued at $87,639,340.50. This represents a 0.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Benitec Biopharma

Several large investors have recently made changes to their positions in the company. Nantahala Capital Management LLC bought a new position in shares of Benitec Biopharma in the 2nd quarter worth $5,881,000. Geode Capital Management LLC boosted its holdings in Benitec Biopharma by 31.3% during the third 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. grew its position 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 position in shares of Benitec Biopharma by 422.0% during the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after buying an additional 7,137,763 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of 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 last quarter. Institutional investors and hedge funds own 52.19% of the company’s stock.

Benitec Biopharma Stock Down 0.4 %

NASDAQ BNTC traded down $0.05 during trading hours on Friday, reaching $11.02. 9,464 shares of the company’s stock were exchanged, compared to its average volume of 44,943. The firm has a fifty day moving average of $11.10 and a 200-day moving average of $9.99. Benitec Biopharma has a one year low of $2.69 and a one year high of $13.29.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HC Wainwright began coverage on Benitec Biopharma in a report on Monday, December 16th. They set a “buy” rating and a $28.00 price objective on the stock. Robert W. Baird began coverage on shares of Benitec Biopharma in a report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price target on the stock. Guggenheim reaffirmed a “buy” rating and set a $17.00 price objective on shares of Benitec Biopharma in a report on Tuesday, December 3rd. JMP Securities upped their target price on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a research note on Monday, October 14th. Finally, Oppenheimer assumed coverage on shares of Benitec Biopharma in a research note on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price target for the company. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $24.43.

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.