Short Interest in Benitec Biopharma Inc. (NASDAQ:BNTC) Rises By 65.7%

Benitec Biopharma Inc. (NASDAQ:BNTC) saw 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 daily trading volume, of 55,200 shares, the short-interest ratio is presently 1.1 days.

Insider Transactions at Benitec Biopharma

In other news, Director Suvretta Capital Management, L purchased 27,502 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was purchased at an average cost of $10.98 per share, with a total value of $301,971.96. Following the purchase, the director now owns 7,981,725 shares in the company, valued at $87,639,340.50. This trade represents a 0.35 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of Benitec Biopharma

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in Benitec Biopharma by 20.3% during the third quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 1,102 shares during the period. Acuta Capital Partners LLC acquired a new position in shares of Benitec Biopharma in the 3rd quarter valued at about $274,000. Simplify Asset Management Inc. purchased a new stake in shares of Benitec Biopharma in the second quarter worth approximately $358,000. Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 20,012 shares during the period. Finally, Nantahala Capital Management LLC purchased a new position in Benitec Biopharma during the second quarter valued at approximately $5,881,000. Institutional investors and hedge funds own 52.19% of the company’s stock.

Benitec Biopharma Trading Down 0.9 %

Benitec Biopharma stock traded down $0.10 during midday trading on Friday, reaching $10.97. The stock had a trading volume of 9,677 shares, compared to its average volume of 45,001. Benitec Biopharma has a twelve month low of $2.69 and a twelve month high of $13.29. The firm’s fifty day simple moving average is $11.10 and its two-hundred day simple moving average is $9.99.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. HC Wainwright started coverage on Benitec Biopharma in a report on Monday, December 16th. They set a “buy” rating and a $28.00 target price on the stock. Guggenheim reiterated a “buy” rating and issued a $17.00 target price on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Baird R W raised shares of Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. Robert W. Baird assumed coverage on shares of Benitec Biopharma in a research report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price target on the stock. Finally, JMP Securities increased their price objective on Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a research report on Monday, October 14th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price 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.