Brokerages Set Benitec Biopharma Inc. (NASDAQ:BNTC) PT at $22.60

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) have been assigned a consensus rating of "Buy" from the six brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $22.60.

A number of research firms recently weighed in on BNTC. JMP Securities upped their price target on Benitec Biopharma from $16.00 to $18.00 and gave the stock a "market outperform" rating in a report on Monday, October 14th. Piper Sandler reissued an "overweight" rating on shares of Benitec Biopharma in a research report on Friday, October 18th. Guggenheim reissued a "buy" rating and set a $17.00 price target on shares of Benitec Biopharma in a research report on Tuesday. Finally, Oppenheimer began coverage on Benitec Biopharma in a research report on Wednesday, October 16th. They set an "outperform" rating and a $35.00 price target for the company.

Benitec Biopharma Stock Performance

Shares of BNTC traded down $0.07 on Thursday, reaching $9.78. The stock had a trading volume of 23,254 shares, compared to its average volume of 45,304. The firm has a 50-day moving average of $10.26 and a 200 day moving average of $9.16. Benitec Biopharma has a twelve month low of $2.69 and a twelve month high of $12.89.

Insider Transactions at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 42,000 shares of Benitec Biopharma stock in a transaction that occurred on Tuesday, December 3rd. The shares were purchased at an average price of $9.60 per share, for a total transaction of $403,200.00. Following the completion of the acquisition, the director now owns 7,957,365 shares of the company's stock, valued at $76,390,704. The trade was a 0.53 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNTC. GAMMA Investing LLC lifted its stake in shares of Benitec Biopharma by 53.0% during the second quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 1,884 shares in the last quarter. Acuta Capital Partners LLC acquired a new position in shares of Benitec Biopharma during the third quarter worth about $274,000. Simplify Asset Management Inc. acquired a new position in shares of Benitec Biopharma during the second quarter worth about $358,000. Geode Capital Management LLC lifted its stake in shares of Benitec Biopharma by 31.3% during the third quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company's stock worth $772,000 after purchasing an additional 20,012 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Benitec Biopharma by 35.5% during 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. 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.