Benitec Biopharma Inc. (NASDAQ:BNTC) Given Consensus Rating of “Buy” by Analysts

Benitec Biopharma Inc. (NASDAQ:BNTC) has received an average rating of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $24.43.

Several analysts have issued reports on BNTC shares. Robert W. Baird started coverage on shares of Benitec Biopharma in a research note on Friday, December 13th. They issued an “outperform” rating and a $30.00 target price on the stock. JMP Securities lifted their price objective 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. Oppenheimer started coverage on Benitec Biopharma in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 target price on the stock. HC Wainwright started coverage on Benitec Biopharma in a research report on Monday, December 16th. They set a “buy” rating and a $28.00 price target for the company. Finally, Piper Sandler restated an “overweight” rating on shares of Benitec Biopharma in a research report on Friday, October 18th.

Benitec Biopharma Stock Up 0.2 %

Shares of BNTC opened at $12.10 on Monday. The business’s 50-day moving average price is $11.05 and its 200-day moving average price is $9.78. Benitec Biopharma has a twelve month low of $2.69 and a twelve month high of $13.29. The stock has a market cap of $280.91 million, a PE ratio of -4.26 and a beta of 0.82.

Insider Buying and Selling at Benitec Biopharma

In other Benitec Biopharma news, Director Suvretta Capital Management, L purchased 42,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average cost of $9.60 per share, with a total value of $403,200.00. Following the completion of the purchase, the director now directly owns 7,957,365 shares of the company’s stock, valued at approximately $76,390,704. This trade represents a 0.53 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Benitec Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of BNTC. GAMMA Investing LLC increased its stake 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 purchasing an additional 1,102 shares during the period. Acuta Capital Partners LLC purchased a new position in shares of Benitec Biopharma in the third quarter worth $274,000. Simplify Asset Management Inc. bought a new stake in Benitec Biopharma during the 2nd quarter valued at $358,000. Geode Capital Management LLC boosted its position in 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 buying an additional 20,012 shares during the period. Finally, Nantahala Capital Management LLC bought a new stake in Benitec Biopharma in the 2nd quarter worth $5,881,000. Institutional investors own 52.19% of the company’s stock.

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.