Short Interest in Benitec Biopharma Inc. (NASDAQ:BNTC) Increases By 36.1%

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 294,200 shares, an increase of 36.1% from the March 15th total of 216,100 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 42,100 shares, the short-interest ratio is currently 7.0 days.

Analyst Ratings Changes

A number of research analysts have issued reports on BNTC shares. HC Wainwright restated a "buy" rating and set a $28.00 target price on shares of Benitec Biopharma in a research report on Monday, March 24th. JMP Securities increased their target price on shares of Benitec Biopharma from $18.00 to $20.00 and gave the stock a "market outperform" rating in a research report on Thursday, April 10th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $24.71.

Insider Activity at Benitec Biopharma

In related news, Director Suvretta Capital Management, L purchased 900,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average price of $13.00 per share, for a total transaction of $11,700,000.00. Following the purchase, the director now owns 8,793,245 shares in the company, valued at approximately $114,312,185. This represents a 11.40 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in BNTC. Geode Capital Management LLC lifted its stake in Benitec Biopharma by 31.3% in the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company's stock valued at $772,000 after purchasing an additional 20,012 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Benitec Biopharma by 269.0% during the 4th quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company's stock worth $37,123,000 after buying an additional 2,142,643 shares during the period. MYDA Advisors LLC bought a new stake in shares of Benitec Biopharma in the 4th quarter valued at about $632,000. Adage Capital Partners GP L.L.C. grew its position in shares of Benitec Biopharma by 134.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company's stock valued at $24,913,000 after buying an additional 1,131,129 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Benitec Biopharma by 54.2% in the 4th quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company's stock valued at $482,000 after buying an additional 13,425 shares during the last quarter. Institutional investors own 52.19% of the company's stock.

Benitec Biopharma Stock Performance

Shares of NASDAQ BNTC traded down $0.04 during trading hours on Wednesday, hitting $13.75. 12,905 shares of the stock were exchanged, compared to its average volume of 41,318. The company has a market cap of $322.45 million, a PE ratio of -9.11 and a beta of 0.76. The company's fifty day simple moving average is $12.95 and its two-hundred day simple moving average is $11.61. Benitec Biopharma has a 1-year low of $5.74 and a 1-year high of $16.90.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last issued its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.19. As a group, sell-side analysts expect that Benitec Biopharma will post -1.48 EPS for the current fiscal year.

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.