Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L Buys 900,000 Shares of Stock

Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L acquired 900,000 shares of Benitec Biopharma stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average price of $13.00 per share, with a total value of $11,700,000.00. Following the transaction, the director now owns 8,793,245 shares of the company’s stock, valued at $114,312,185. The trade was a 11.40 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Benitec Biopharma Stock Performance

Shares of Benitec Biopharma stock opened at $13.43 on Friday. Benitec Biopharma Inc. has a fifty-two week low of $4.75 and a fifty-two week high of $16.90. The company has a market capitalization of $314.95 million, a P/E ratio of -8.89 and a beta of 0.92. The company has a fifty day moving average of $12.25 and a 200 day moving average of $11.12.

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. Analysts forecast that Benitec Biopharma Inc. will post -1.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BNTC shares. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Benitec Biopharma in a research report on Monday, March 24th. Guggenheim reiterated a “buy” rating and issued a $17.00 price target on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Baird R W raised shares of Benitec Biopharma to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Robert W. Baird started coverage on Benitec Biopharma in a report on Friday, December 13th. They issued an “outperform” rating and a $30.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $24.43.

Institutional Investors Weigh In On Benitec Biopharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Acuta Capital Partners LLC bought a new position in shares of Benitec Biopharma during the third quarter worth $274,000. Suvretta Capital Management LLC lifted 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 worth $81,139,000 after purchasing an additional 7,137,763 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $772,000 after purchasing an additional 20,012 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Benitec Biopharma by 269.0% during the fourth quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company’s stock valued at $37,123,000 after purchasing an additional 2,142,643 shares in the last quarter. Finally, MYDA Advisors LLC bought a new stake in shares of Benitec Biopharma in the fourth quarter worth about $632,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

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.