Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Down 41.8% in November

Benitec Biopharma Inc. (NASDAQ:BNTC) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 33,100 shares, a decline of 41.8% from the October 31st total of 56,900 shares. Based on an average trading volume of 32,700 shares, the short-interest ratio is currently 1.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Benitec Biopharma by 31.3% during the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock worth $772,000 after acquiring an additional 20,012 shares during the last quarter. Suvretta Capital Management LLC lifted its position in Benitec Biopharma by 422.0% during the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after acquiring an additional 7,137,763 shares during the last quarter. Acuta Capital Partners LLC acquired a new position in Benitec Biopharma during the 3rd quarter worth $274,000. Simplify Asset Management Inc. lifted its position in Benitec Biopharma by 127.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock worth $1,071,000 after acquiring an additional 65,319 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Benitec Biopharma by 20.3% during the 3rd 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 last quarter. Institutional investors and hedge funds own 52.19% of the company’s stock.

Benitec Biopharma Stock Up 3.7 %

Shares of BNTC stock traded up $0.36 on Friday, hitting $10.09. The company’s stock had a trading volume of 65,150 shares, compared to its average volume of 45,274. Benitec Biopharma has a fifty-two week low of $2.69 and a fifty-two week high of $12.89. The firm’s fifty day moving average price is $10.19 and its 200-day moving average price is $9.13.

Wall Street Analysts Forecast Growth

BNTC has been the topic of several research analyst reports. Guggenheim initiated coverage on shares of Benitec Biopharma in a report on Thursday, September 12th. They set a “buy” rating and a $17.00 price target on the stock. Piper Sandler restated an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. JMP Securities boosted their price target on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Finally, Oppenheimer started coverage on shares of Benitec Biopharma in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price objective for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price 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.