Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L Buys 900,000 Shares

Benitec Biopharma Inc. (NASDAQ:BNTC - Get Free Report) Director Suvretta Capital Management, L bought 900,000 shares of the business's stock in a transaction on Wednesday, March 26th. The stock was acquired at an average cost of $13.00 per share, for a total transaction of $11,700,000.00. Following the acquisition, the director now directly owns 8,793,245 shares of the company's stock, valued at $114,312,185. The trade was a 11.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Benitec Biopharma Trading Down 7.6 %

NASDAQ:BNTC traded down $0.99 during midday trading on Tuesday, hitting $12.02. 48,600 shares of the stock were exchanged, compared to its average volume of 55,182. The business has a 50-day moving average price of $12.33 and a two-hundred day moving average price of $11.22. The company has a market capitalization of $281.88 million, a price-to-earnings ratio of -7.96 and a beta of 0.92. Benitec Biopharma Inc. has a one year low of $4.75 and a one year high of $16.90.

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 the consensus estimate of ($0.55) by $0.19. Sell-side analysts forecast that Benitec Biopharma Inc. will post -1.48 EPS for the current fiscal year.

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Wall Street Analyst Weigh In

BNTC has been the topic of a number of recent research reports. Guggenheim reiterated a "buy" rating and issued a $17.00 target price on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. HC Wainwright reiterated a "buy" rating and issued a $28.00 price objective on shares of Benitec Biopharma in a research report on Monday, March 24th. Robert W. Baird initiated coverage on shares of Benitec Biopharma in a research report on Friday, December 13th. They issued an "outperform" rating and a $30.00 target price for the company. Finally, Baird R W raised Benitec Biopharma to a "strong-buy" rating in a report on Thursday, December 12th. Seven 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, the stock presently has an average rating of "Buy" and a consensus price target of $24.43.

Institutional Trading of Benitec Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Suvretta Capital Management LLC grew its position in Benitec Biopharma by 1.5% in the fourth quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company's stock worth $113,165,000 after buying an additional 130,956 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Benitec Biopharma by 269.0% during the fourth quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company's stock worth $37,123,000 after purchasing an additional 2,142,643 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of 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 purchasing an additional 1,739,904 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Benitec Biopharma by 134.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company's stock valued at $24,913,000 after purchasing an additional 1,131,129 shares during the period. Finally, Infinitum Asset Management LLC purchased a new position in Benitec Biopharma in the 4th quarter worth about $2,652,000. 52.19% of the stock is currently owned by institutional investors.

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.