Benitec Biopharma (NASDAQ:BNTC) Coverage Initiated at Robert W. Baird

Investment analysts at Robert W. Baird began coverage on shares of Benitec Biopharma (NASDAQ:BNTC - Get Free Report) in a report released on Friday, Marketbeat reports. The brokerage set an "outperform" rating and a $30.00 price target on the biotechnology company's stock. Robert W. Baird's target price would suggest a potential upside of 154.02% from the company's current price.

BNTC has been the topic of a number of other reports. Piper Sandler restated an "overweight" rating on shares of Benitec Biopharma in a research note on Friday, October 18th. Oppenheimer began coverage on shares of Benitec Biopharma in a research report on Wednesday, October 16th. They issued an "outperform" rating and a $35.00 price target on the stock. Guggenheim reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Finally, JMP Securities boosted their target price on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a "market outperform" rating in a report on Monday, October 14th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $23.83.

Benitec Biopharma Stock Performance

NASDAQ:BNTC traded down $0.54 during trading hours on Friday, reaching $11.81. The stock had a trading volume of 44,138 shares, compared to its average volume of 45,967. The stock has a 50 day simple moving average of $10.50 and a 200 day simple moving average of $9.25. Benitec Biopharma has a 12-month low of $2.69 and a 12-month high of $13.22.

Insider Activity

In related news, Director Suvretta Capital Management, L purchased 42,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average price of $9.60 per share, with a total value of $403,200.00. Following the purchase, the director now directly owns 7,957,365 shares in the company, valued at approximately $76,390,704. This represents a 0.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company's stock.

Institutional Trading of Benitec Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in BNTC. GAMMA Investing LLC lifted its position in Benitec Biopharma by 20.3% in the 3rd quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company's stock worth $60,000 after buying an additional 1,102 shares during the last quarter. Acuta Capital Partners LLC bought a new stake in shares of Benitec Biopharma in the 3rd quarter worth approximately $274,000. Simplify Asset Management Inc. purchased a new stake in shares of Benitec Biopharma in the 2nd quarter valued at $358,000. Geode Capital Management LLC grew its holdings in shares of Benitec Biopharma by 31.3% during 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. Finally, Nantahala Capital Management LLC purchased a new position in Benitec Biopharma in the 2nd quarter worth $5,881,000. Hedge funds and other institutional investors own 52.19% of the company's stock.

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.