Benitec Biopharma (NASDAQ:BNTC) Coverage Initiated at HC Wainwright

Research analysts at HC Wainwright started coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a report issued on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $28.00 price target on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 119.26% from the stock’s previous close.

Several other equities analysts also recently issued reports on BNTC. Guggenheim reissued a “buy” rating and set a $17.00 price objective on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. Robert W. Baird started coverage on shares of Benitec Biopharma in a research report on Friday, December 13th. They set an “outperform” rating and a $30.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating on shares of Benitec Biopharma in a research report on Friday, October 18th. Oppenheimer started coverage on shares of Benitec Biopharma in a research report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price target for the company. Finally, JMP Securities upped their price target on shares of Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a research report on Monday, October 14th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $24.43.

Benitec Biopharma Price Performance

Shares of BNTC opened at $12.77 on Monday. The company’s 50 day simple moving average is $10.61 and its 200 day simple moving average is $9.32. Benitec Biopharma has a 1 year low of $2.69 and a 1 year high of $13.29.

Insider Buying and Selling at Benitec Biopharma

In related news, Director Suvretta Capital Management, L acquired 42,000 shares of Benitec Biopharma stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average cost of $9.60 per share, for a total transaction of $403,200.00. Following the purchase, the director now directly owns 7,957,365 shares of the company’s stock, valued at $76,390,704. The trade was a 0.53 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BNTC. Suvretta Capital Management LLC lifted its position in shares of 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 buying an additional 7,137,763 shares during the last quarter. Nantahala Capital Management LLC bought a new position in shares of Benitec Biopharma in the 2nd quarter worth about $5,881,000. Simplify Asset Management Inc. lifted its position in shares of Benitec Biopharma by 127.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock worth $1,071,000 after buying an additional 65,319 shares during the last quarter. Acuta Capital Partners LLC bought a new position in shares of Benitec Biopharma in the 3rd quarter worth about $274,000. Finally, Geode Capital Management LLC lifted its position 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 worth $772,000 after buying an additional 20,012 shares during the last quarter. 52.19% of the stock is currently owned by 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.