Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Up 23.6% in March

Benitec Biopharma Inc. (NASDAQ:BNTC) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 216,100 shares, a growth of 23.6% from the February 28th total of 174,800 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 50,800 shares, the short-interest ratio is presently 4.3 days.

Analyst Upgrades and Downgrades

BNTC has been the subject of several analyst reports. Robert W. Baird initiated coverage on shares of Benitec Biopharma in a research note on Friday, December 13th. They issued an “outperform” rating and a $30.00 price objective for the company. Baird R W upgraded Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Benitec Biopharma in a research report on Monday, March 24th. Finally, Guggenheim reiterated a “buy” rating and set a $17.00 target price on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $24.43.

Benitec Biopharma Trading Down 3.1 %

Shares of BNTC stock opened at $13.01 on Tuesday. Benitec Biopharma has a twelve month low of $4.75 and a twelve month high of $16.90. The stock has a fifty day simple moving average of $12.31 and a two-hundred day simple moving average of $11.19. The stock has a market capitalization of $305.10 million, a price-to-earnings ratio of -8.62 and a beta of 0.92.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.19. Research analysts predict that Benitec Biopharma will post -1.48 EPS for the current fiscal year.

Insider Activity at Benitec Biopharma

In other news, Director Suvretta Capital Management, L purchased 900,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average cost of $13.00 per share, with a total value of $11,700,000.00. Following the purchase, the director now owns 8,793,245 shares in the company, valued at approximately $114,312,185. This trade represents a 11.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Benitec Biopharma

Several hedge funds have recently modified their holdings of the business. Northern Trust Corp raised its stake in Benitec Biopharma by 54.2% in the fourth quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company’s stock worth $482,000 after buying an additional 13,425 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Benitec Biopharma by 31.3% in the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock valued at $772,000 after acquiring an additional 20,012 shares during the period. Ameriprise Financial Inc. raised its position in shares of Benitec Biopharma by 138.4% in the 4th quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock worth $448,000 after acquiring an additional 20,597 shares in the last quarter. Lion Point Capital LP lifted its stake in shares of Benitec Biopharma by 59.0% during the 4th quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company’s stock worth $783,000 after purchasing an additional 23,000 shares during the last quarter. Finally, 683 Capital Management LLC bought a new stake in Benitec Biopharma during the fourth quarter valued at about $452,000. Hedge funds and other institutional investors own 52.19% of the company’s stock.

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.