Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Up 49.0% in October

Benitec Biopharma Inc. (NASDAQ:BNTC) was the recipient of a significant increase in short interest in 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 daily volume of 28,900 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Investors Weigh In On Benitec Biopharma

Several hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC bought a new stake in Benitec Biopharma in the second quarter valued at approximately $5,881,000. Janus Henderson Group PLC lifted its holdings in Benitec Biopharma by 35.5% during the 1st quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock valued at $1,266,000 after purchasing an additional 64,092 shares during the last quarter. GAMMA Investing LLC boosted its position in Benitec Biopharma by 53.0% during the second quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 1,884 shares during the period. Simplify Asset Management Inc. raised its position in shares of Benitec Biopharma by 127.5% in the third quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock valued at $1,071,000 after purchasing an additional 65,319 shares during the period. Finally, Suvretta Capital Management LLC lifted its stake in shares of Benitec Biopharma by 422.0% during the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after buying an additional 7,137,763 shares during the last quarter. 52.19% of the stock is currently owned by institutional investors and hedge funds.

Benitec Biopharma Stock Performance

Shares of BNTC stock traded up $0.28 during trading on Friday, reaching $10.68. The company’s stock had a trading volume of 45,344 shares, compared to its average volume of 45,625. The business has a fifty day moving average price of $9.91 and a 200-day moving average price of $9.04. Benitec Biopharma has a one year low of $2.69 and a one year high of $12.89.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Oppenheimer assumed coverage on shares of Benitec Biopharma in a report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price target for the company. Leerink Partners assumed coverage on shares of Benitec Biopharma in a report on Monday, July 22nd. They issued an “outperform” rating and a $13.00 price target for the company. Piper Sandler reiterated an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Leerink Partnrs upgraded shares of Benitec Biopharma to a “strong-buy” rating in a report on Monday, July 22nd. Finally, JMP Securities upped their price target 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. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.60.

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.