Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L Buys 900,000 Shares

Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L purchased 900,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average cost of $13.00 per share, with a total value of $11,700,000.00. Following the completion of the acquisition, the director now directly owns 8,793,245 shares in the company, valued at $114,312,185. The trade was a 11.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Benitec Biopharma Trading Down 2.2 %

Benitec Biopharma stock opened at $13.43 on Friday. The company has a market cap of $314.95 million, a PE ratio of -8.89 and a beta of 0.92. Benitec Biopharma Inc. has a 1 year low of $4.75 and a 1 year high of $16.90. The company’s 50-day moving average is $12.25 and its two-hundred day moving average is $11.13.

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, beating the consensus estimate of ($0.55) by $0.19. Research analysts forecast that Benitec Biopharma Inc. will post -1.48 EPS for the current year.

Analyst Upgrades and Downgrades

BNTC has been the subject of several recent analyst reports. Robert W. Baird started coverage on shares of Benitec Biopharma in a report on Friday, December 13th. They set an “outperform” rating and a $30.00 price objective for the company. Guggenheim reaffirmed a “buy” rating and set a $17.00 price target on shares of Benitec Biopharma in a report on Tuesday, December 3rd. HC Wainwright reissued a “buy” rating and issued a $28.00 price objective on shares of Benitec Biopharma in a research note on Monday, March 24th. Finally, Baird R W upgraded Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $24.43.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Infinitum Asset Management LLC acquired a new stake in shares of Benitec Biopharma during the fourth quarter worth $2,652,000. Suvretta Capital Management LLC grew its position in shares of Benitec Biopharma by 1.5% during the 4th quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company’s stock worth $113,165,000 after buying an additional 130,956 shares during the period. Lion Point Capital LP increased its stake in shares of Benitec Biopharma by 59.0% in the 4th quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company’s stock valued at $783,000 after acquiring an additional 23,000 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Benitec Biopharma by 198.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock valued at $33,268,000 after acquiring an additional 1,739,904 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Benitec Biopharma by 138.4% during the 4th quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock worth $448,000 after acquiring an additional 20,597 shares during the last quarter. Institutional investors and hedge funds own 52.19% of the company’s stock.

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.