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

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 216,100 shares, an increase of 23.6% from the February 28th total of 174,800 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 50,800 shares, the short-interest ratio is presently 4.3 days.

Insider Buying and Selling at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 900,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were bought at an average price of $13.00 per share, with a total value of $11,700,000.00. Following the completion of the acquisition, the director now owns 8,793,245 shares of the company's stock, valued at approximately $114,312,185. This trade represents a 11.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of BNTC. Suvretta Capital Management LLC grew its stake in shares of Benitec Biopharma by 1.5% during the 4th quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company's stock valued at $113,165,000 after buying an additional 130,956 shares during the period. Franklin Resources Inc. boosted its holdings in Benitec Biopharma by 269.0% in the fourth quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company's stock valued at $37,123,000 after acquiring an additional 2,142,643 shares during the last quarter. Janus Henderson Group PLC grew its position in Benitec Biopharma by 198.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company's stock valued at $33,268,000 after acquiring an additional 1,739,904 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Benitec Biopharma by 134.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company's stock worth $24,913,000 after acquiring an additional 1,131,129 shares during the last quarter. Finally, Infinitum Asset Management LLC purchased a new position in shares of Benitec Biopharma in the 4th quarter worth about $2,652,000. Institutional investors and hedge funds own 52.19% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Baird R W upgraded shares of Benitec Biopharma to a "strong-buy" rating in a report on Thursday, December 12th. Robert W. Baird initiated coverage on Benitec Biopharma in a research note on Friday, December 13th. They issued an "outperform" rating and a $30.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $28.00 price objective on shares of Benitec Biopharma in a research report on Monday, March 24th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Benitec Biopharma presently has a consensus rating of "Buy" and an average price target of $24.43.

Benitec Biopharma Stock Down 5.3 %

Shares of NASDAQ:BNTC traded down $0.69 during midday trading on Friday, reaching $12.32. The company's stock had a trading volume of 99,875 shares, compared to its average volume of 55,519. The firm has a market cap of $288.92 million, a price-to-earnings ratio of -8.16 and a beta of 0.76. The business has a 50 day moving average price of $12.42 and a 200 day moving average price of $11.24. Benitec Biopharma has a 1 year low of $4.75 and a 1 year high of $16.90.

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