Brokerages Set Benitec Biopharma Inc. (NASDAQ:BNTC) Price Target at $24.43

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) has been given an average rating of "Buy" by the nine brokerages that are covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.43.

BNTC has been the topic of several recent research reports. Guggenheim reissued a "buy" rating and issued a $17.00 price target on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Oppenheimer began coverage on shares of Benitec Biopharma in a report on Wednesday, October 16th. They set an "outperform" rating and a $35.00 price target for the company. HC Wainwright assumed coverage on shares of Benitec Biopharma in a research report on Monday, December 16th. They set a "buy" rating and a $28.00 price target for the company. Baird R W upgraded shares of Benitec Biopharma to a "strong-buy" rating in a research report on Thursday, December 12th. Finally, JMP Securities upped their target price on shares of Benitec Biopharma from $16.00 to $18.00 and gave the stock a "market outperform" rating in a research report on Monday, October 14th.

Benitec Biopharma Trading Up 4.3 %

NASDAQ BNTC traded up $0.51 during trading hours on Monday, reaching $12.51. The company's stock had a trading volume of 72,420 shares, compared to its average volume of 48,957. The business has a 50-day simple moving average of $10.90 and a 200 day simple moving average of $9.60. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $13.29. The stock has a market cap of $290.43 million, a PE ratio of -4.40 and a beta of 0.88.

Insider Activity at Benitec Biopharma

In other news, Director Suvretta Capital Management, L purchased 42,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $9.60 per share, with a total value of $403,200.00. Following the purchase, the director now owns 7,957,365 shares in the company, valued at $76,390,704. This trade represents a 0.53 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Benitec Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Benitec Biopharma by 20.3% during the third quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company's stock valued at $60,000 after buying an additional 1,102 shares in the last quarter. Acuta Capital Partners LLC bought a new position in shares of Benitec Biopharma during the 3rd quarter valued at about $274,000. Simplify Asset Management Inc. acquired a new position in shares of Benitec Biopharma in the 2nd quarter worth approximately $358,000. Geode Capital Management LLC raised its holdings in shares of Benitec Biopharma by 31.3% in the 3rd 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, Nantahala Capital Management LLC acquired a new stake in Benitec Biopharma during the second quarter valued at approximately $5,881,000. Institutional investors 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.