Benitec Biopharma Inc. (NASDAQ:BNTC) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) have been given a consensus rating of "Buy" by the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $24.43.

Several brokerages have recently weighed in 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 objective on the stock. Piper Sandler reissued an "overweight" rating on shares of Benitec Biopharma in a research note on Friday, October 18th. HC Wainwright initiated coverage on Benitec Biopharma in a research report on Monday, December 16th. They issued a "buy" rating and a $28.00 target price on the stock. Robert W. Baird initiated coverage on Benitec Biopharma in a research report on Friday, December 13th. They set an "outperform" rating and a $30.00 price target for the company. Finally, Guggenheim restated a "buy" rating and issued a $17.00 price objective on shares of Benitec Biopharma in a report on Tuesday, December 3rd.

Benitec Biopharma Price Performance

Shares of NASDAQ:BNTC traded up $0.03 during midday trading on Friday, reaching $10.75. The company's stock had a trading volume of 12,350 shares, compared to its average volume of 37,283. The business has a 50 day moving average price of $11.10 and a 200 day moving average price of $10.07. Benitec Biopharma has a 1 year low of $2.70 and a 1 year high of $13.29.

Insider Buying and Selling

In other news, Director Suvretta Capital Management, L purchased 27,502 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $10.98 per share, with a total value of $301,971.96. Following the acquisition, the director now owns 7,981,725 shares in the company, valued at approximately $87,639,340.50. This trade represents a 0.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Benitec Biopharma

A number of institutional investors have recently added to or reduced their stakes in BNTC. GAMMA Investing LLC increased 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 worth $60,000 after buying an additional 1,102 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 in the last quarter. Acuta Capital Partners LLC bought a new stake in shares of Benitec Biopharma in the 3rd quarter worth about $274,000. Simplify Asset Management Inc. raised its stake in shares of Benitec Biopharma by 127.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company's stock valued at $1,071,000 after purchasing an additional 65,319 shares in the last quarter. Finally, Nantahala Capital Management LLC bought a new position in shares of Benitec Biopharma during the second quarter worth about $5,881,000. Institutional investors and hedge funds own 52.19% of the company's stock.

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.