Simplify Asset Management Inc. Grows Position in Benitec Biopharma Inc. (NASDAQ:BNTC)

Simplify Asset Management Inc. boosted its position in Benitec Biopharma Inc. (NASDAQ:BNTC) by 127.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,535 shares of the biotechnology company’s stock after purchasing an additional 65,319 shares during the period. Simplify Asset Management Inc. owned about 1.10% of Benitec Biopharma worth $1,071,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Benitec Biopharma by 20.3% in the third quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 1,102 shares during the period. Nantahala Capital Management LLC bought a new position in shares of Benitec Biopharma in the 2nd quarter worth $5,881,000. Finally, Janus Henderson Group PLC raised its holdings in Benitec Biopharma by 35.5% in the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock worth $1,266,000 after purchasing an additional 64,092 shares in the last quarter. 52.19% of the stock is owned by hedge funds and other institutional investors.

Benitec Biopharma Stock Performance

NASDAQ BNTC traded up $0.30 during trading on Friday, hitting $10.70. The stock had a trading volume of 6,118 shares, compared to its average volume of 45,440. The firm has a 50 day moving average price of $9.88 and a 200 day moving average price of $9.02. Benitec Biopharma Inc. has a twelve month low of $2.69 and a twelve month high of $12.89.

Wall Street Analysts Forecast Growth

BNTC has been the subject of a number of recent analyst reports. Oppenheimer assumed coverage on Benitec Biopharma in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price objective for the company. Leerink Partners initiated coverage on shares of Benitec Biopharma in a research note on Monday, July 22nd. They issued an “outperform” rating and a $13.00 price target on the stock. Guggenheim started coverage on shares of Benitec Biopharma in a research note on Thursday, September 12th. They issued a “buy” rating and a $17.00 price target on the stock. Leerink Partnrs raised Benitec Biopharma to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Benitec Biopharma in a research note on Friday, October 18th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $22.60.

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.