Benitec Biopharma Inc. (NASDAQ:BNTC) Sees Significant Increase in Short Interest

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 174,800 shares, a growth of 17.6% from the February 13th total of 148,700 shares. Currently, 0.8% of the company's shares are sold short. Based on an average daily volume of 49,700 shares, the short-interest ratio is currently 3.5 days.

Insider Transactions at Benitec Biopharma

In other news, Director Suvretta Capital Management, L purchased 27,502 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $10.98 per share, for a total transaction of $301,971.96. Following the transaction, the director now owns 7,981,725 shares of the company's stock, valued at approximately $87,639,340.50. This trade represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Benitec Biopharma

Institutional investors have recently added to or reduced their stakes in the stock. Acuta Capital Partners LLC bought a new position in Benitec Biopharma during the third quarter valued at about $274,000. Ameriprise Financial Inc. grew its position in Benitec Biopharma by 138.4% during the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company's stock valued at $448,000 after buying an additional 20,597 shares during the period. 683 Capital Management LLC bought a new position in Benitec Biopharma during the fourth quarter valued at about $452,000. Northern Trust Corp grew its position in Benitec Biopharma by 54.2% during the fourth 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 period. Finally, MYDA Advisors LLC purchased a new stake in Benitec Biopharma during the fourth quarter valued at about $632,000. Institutional investors own 52.19% of the company's stock.

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Wall Street Analyst Weigh In

BNTC has been the topic of a number of research reports. Guggenheim reiterated a "buy" rating and set a $17.00 target price on shares of Benitec Biopharma in a research report on Tuesday, December 3rd. Baird R W upgraded shares of Benitec Biopharma to a "strong-buy" rating in a research report on Thursday, December 12th. Robert W. Baird initiated coverage on shares of Benitec Biopharma in a research report on Friday, December 13th. They set an "outperform" rating and a $30.00 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $28.00 target price on shares of Benitec Biopharma in a research report on Friday, February 21st. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Benitec Biopharma has a consensus rating of "Buy" and a consensus target price of $24.43.

Benitec Biopharma Stock Down 4.1 %

BNTC traded down $0.68 during trading on Friday, hitting $16.11. 166,212 shares of the company's stock were exchanged, compared to its average volume of 53,116. The business's 50 day moving average is $11.91 and its two-hundred day moving average is $10.97. Benitec Biopharma has a fifty-two week low of $4.75 and a fifty-two week high of $16.90. The stock has a market cap of $377.80 million, a P/E ratio of -10.67 and a beta of 0.92.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last posted its earnings results on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.19. On average, sell-side analysts forecast that Benitec Biopharma will post -1.48 earnings per share for the current year.

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.