Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Update

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 56,900 shares, an increase of 49.0% from the October 15th total of 38,200 shares. Based on an average trading volume of 28,900 shares, the short-interest ratio is presently 2.0 days.

Hedge Funds Weigh In On Benitec Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Benitec Biopharma by 53.0% in the 2nd quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company's stock worth $38,000 after buying an additional 1,884 shares during the last quarter. Acuta Capital Partners LLC purchased a new stake in shares of Benitec Biopharma in the third quarter worth $274,000. Simplify Asset Management Inc. bought a new position in shares of Benitec Biopharma during the second quarter valued at $358,000. Janus Henderson Group PLC raised its position in shares of Benitec Biopharma by 35.5% in the 1st 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 during the last quarter. Finally, Nantahala Capital Management LLC bought a new position in Benitec Biopharma in the 2nd quarter worth about $5,881,000. Institutional investors own 52.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BNTC shares. Leerink Partners assumed coverage on Benitec Biopharma in a report on Monday, July 22nd. They set an "outperform" rating and a $13.00 price target on the stock. JMP Securities boosted their target price on Benitec Biopharma from $16.00 to $18.00 and gave the company a "market outperform" rating in a research note on Monday, October 14th. Leerink Partnrs raised Benitec Biopharma to a "strong-buy" rating in a research note on Monday, July 22nd. Guggenheim initiated coverage on shares of Benitec Biopharma in a research report on Thursday, September 12th. They set a "buy" rating and a $17.00 price objective on the stock. Finally, Oppenheimer started coverage on shares of Benitec Biopharma in a research report on Wednesday, October 16th. They issued an "outperform" rating and a $35.00 target price for the company. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $22.60.

Benitec Biopharma Stock Performance

Benitec Biopharma stock traded down $0.04 on Thursday, hitting $10.40. 49,302 shares of the stock traded hands, compared to its average volume of 45,626. Benitec Biopharma has a 1 year low of $2.69 and a 1 year high of $12.89. The business's fifty day simple moving average is $9.88 and its 200 day simple moving average is $9.02.

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.