Insider Buying: Benitec Biopharma Inc. (NASDAQ:BNTC) Director Buys 900,000 Shares of Stock

Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L bought 900,000 shares of Benitec Biopharma stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average price of $13.00 per share, for a total transaction of $11,700,000.00. Following the purchase, the director now directly owns 8,793,245 shares in the company, valued at $114,312,185. This represents a 11.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Benitec Biopharma Stock Performance

NASDAQ BNTC opened at $13.43 on Monday. The stock has a market capitalization of $314.95 million, a P/E ratio of -8.89 and a beta of 0.92. Benitec Biopharma Inc. has a 52 week low of $4.75 and a 52 week high of $16.90. The stock has a fifty day moving average of $12.25 and a 200-day moving average of $11.15.

Benitec Biopharma (NASDAQ:BNTC) last announced its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.19. Equities research analysts forecast that Benitec Biopharma Inc. will post -1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Benitec Biopharma

Several large investors have recently bought and sold shares of the business. Infinitum Asset Management LLC acquired a new stake in Benitec Biopharma during the 4th quarter worth $2,652,000. Suvretta Capital Management LLC grew its stake in shares of Benitec Biopharma by 1.5% during the fourth quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company’s stock worth $113,165,000 after purchasing an additional 130,956 shares during the period. Lion Point Capital LP increased its holdings in Benitec Biopharma by 59.0% in the fourth quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company’s stock valued at $783,000 after purchasing an additional 23,000 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Benitec Biopharma by 198.5% in the fourth quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock valued at $33,268,000 after purchasing an additional 1,739,904 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Benitec Biopharma by 138.4% in the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock valued at $448,000 after buying an additional 20,597 shares during the period. 52.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Guggenheim restated a “buy” rating and issued a $17.00 price target on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Robert W. Baird began coverage on Benitec Biopharma in a research report on Friday, December 13th. They set an “outperform” rating and a $30.00 price target on the stock. Baird R W raised Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. Finally, HC Wainwright restated a “buy” rating and set a $28.00 target price on shares of Benitec Biopharma in a report on Monday, March 24th. Seven research 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, Benitec Biopharma has an average rating of “Buy” and an average price target 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.