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

Analysts at HC Wainwright began coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $28.00 price target on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 137.89% from the company’s current price.

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

Benitec Biopharma Stock Performance

Shares of NASDAQ:BNTC opened at $11.77 on Monday. The business has a 50 day moving average price of $10.55 and a 200 day moving average price of $9.29. Benitec Biopharma has a twelve month low of $2.69 and a twelve month high of $13.22.

Insider Buying and Selling at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 42,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average cost of $9.60 per share, with a total value of $403,200.00. Following the completion of the transaction, the director now directly owns 7,957,365 shares of the company’s stock, valued at $76,390,704. This trade represents a 0.53 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Benitec Biopharma

Several large investors have recently bought and sold shares of BNTC. Nantahala Capital Management LLC purchased a new position in Benitec Biopharma during the second quarter worth about $5,881,000. Simplify Asset Management Inc. grew its holdings in shares of Benitec Biopharma by 127.5% in the third quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock valued at $1,071,000 after acquiring an additional 65,319 shares in the last quarter. Suvretta Capital Management LLC increased its position in shares of Benitec Biopharma by 422.0% during the third quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock valued at $81,139,000 after acquiring an additional 7,137,763 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Benitec Biopharma by 20.3% during the third quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 1,102 shares during the period. Finally, Acuta Capital Partners LLC purchased a new position in Benitec Biopharma in the third quarter worth $274,000. 52.19% of the stock is currently 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.