By otakuyassine3@gmail.com 
Benitec Biopharma Inc. (NASDAQ:BNTC – Get Free Report) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 35,400 shares, an increase of 6.9% from the November 15th total of 33,100 shares. Based on an average daily trading volume, of 39,100 shares, the days-to-cover ratio is presently 0.9 days.
Benitec Biopharma Trading Down 4.7 %
NASDAQ BNTC traded down $0.58 on Friday, reaching $11.77. The company had a trading volume of 52,248 shares, compared to its average volume of 46,012. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $13.22. The stock’s 50 day moving average is $10.55 and its 200-day moving average is $9.29.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Oppenheimer started coverage on Benitec Biopharma in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price objective on the stock. Robert W. Baird began coverage on Benitec Biopharma in a research note on Friday. They set an “outperform” rating and a $30.00 price target on the stock. JMP Securities lifted their price objective on Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a research report on Monday, October 14th. Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $17.00 target price on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $23.83.
View Our Latest Report on Benitec Biopharma
Insider Activity
In related news, Director Suvretta Capital Management, L bought 42,000 shares of Benitec Biopharma stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average cost of $9.60 per share, for a total transaction of $403,200.00. Following the completion of the transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.
Institutional Trading of Benitec Biopharma
A number of institutional investors and hedge funds have recently modified their holdings of BNTC. Suvretta Capital Management LLC boosted its stake in 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 acquiring an additional 7,137,763 shares during the last quarter. Nantahala Capital Management LLC acquired a new stake in Benitec Biopharma in the second quarter worth $5,881,000. Simplify Asset Management Inc. boosted its position in shares of Benitec Biopharma by 127.5% during the third quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock worth $1,071,000 after purchasing an additional 65,319 shares in the last quarter. Geode Capital Management LLC grew 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 buying an additional 20,012 shares during the period. Finally, Acuta Capital Partners LLC bought a new stake in shares of Benitec Biopharma in the 3rd quarter valued at $274,000. 52.19% of the stock is owned by institutional investors.
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.
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