Simplify Asset Management Inc. Sells 40,198 Shares of Benitec Biopharma Inc. (NASDAQ:BNTC)

Simplify Asset Management Inc. reduced its stake in shares of Benitec Biopharma Inc. (NASDAQ:BNTC - Free Report) by 34.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 76,337 shares of the biotechnology company's stock after selling 40,198 shares during the period. Simplify Asset Management Inc. owned approximately 0.33% of Benitec Biopharma worth $964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Suvretta Capital Management LLC lifted its holdings in shares of Benitec Biopharma by 422.0% in the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company's stock worth $81,139,000 after acquiring an additional 7,137,763 shares during the last quarter. Acuta Capital Partners LLC purchased a new stake in Benitec Biopharma during the third quarter valued at about $274,000. Finally, Geode Capital Management LLC grew its stake in shares of Benitec Biopharma by 31.3% during the third quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company's stock valued at $772,000 after buying an additional 20,012 shares during the last quarter. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

Benitec Biopharma Price Performance

NASDAQ:BNTC traded down $0.28 during trading hours on Thursday, hitting $13.73. The company had a trading volume of 66,371 shares, compared to its average volume of 53,959. The stock has a 50-day moving average price of $12.19 and a 200 day moving average price of $11.09. The company has a market capitalization of $321.98 million, a PE ratio of -9.09 and a beta of 0.92. Benitec Biopharma Inc. has a 52 week low of $4.75 and a 52 week high of $16.90.

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Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last announced its earnings results on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.55) by $0.19. Analysts anticipate that Benitec Biopharma Inc. will post -1.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BNTC. HC Wainwright restated a "buy" rating and set a $28.00 target price on shares of Benitec Biopharma in a report on Monday. Baird R W upgraded shares of Benitec Biopharma to a "strong-buy" rating in a report on Thursday, December 12th. Guggenheim reaffirmed a "buy" rating and issued a $17.00 target price on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. Finally, Robert W. Baird started coverage on shares of Benitec Biopharma in a research report on Friday, December 13th. They set an "outperform" rating and a $30.00 price target for the company. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $24.43.

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.