Benitec Biopharma (NASDAQ:BNTC) Now Covered by Guggenheim

Guggenheim initiated coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a research note published on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $17.00 target price on the biotechnology company’s stock.

A number of other analysts have also recently weighed in on the company. Piper Sandler initiated coverage on Benitec Biopharma in a research report on Thursday, June 13th. They issued an overweight rating and a $30.00 price target for the company. Leerink Partnrs raised shares of Benitec Biopharma to a strong-buy rating in a research report on Monday, July 22nd. Finally, Leerink Partners assumed coverage on Benitec Biopharma in a research report on Monday, July 22nd. They issued an outperform rating and a $13.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $19.00.

Benitec Biopharma Price Performance

Shares of NASDAQ:BNTC opened at $8.15 on Thursday. The firm has a market cap of $82.23 million, a price-to-earnings ratio of -4.48 and a beta of 0.90. Benitec Biopharma has a 1 year low of $2.69 and a 1 year high of $10.88. The company has a current ratio of 4.18, a quick ratio of 4.18 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $9.02 and a 200 day simple moving average of $7.66.

Institutional Investors Weigh In On Benitec Biopharma

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in Benitec Biopharma by 53.0% in the 2nd quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 1,884 shares in the last quarter. Simplify Asset Management Inc. bought a new stake in shares of Benitec Biopharma during the second quarter worth approximately $358,000. Janus Henderson Group PLC boosted its holdings in Benitec Biopharma by 35.5% during the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock worth $1,266,000 after buying an additional 64,092 shares during the last quarter. Finally, Nantahala Capital Management LLC bought a new stake in shares of Benitec Biopharma in the 2nd quarter valued at $5,881,000. 52.19% of the stock is owned by institutional investors and hedge funds.

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.