Benitec Biopharma Inc. (NASDAQ:BNTC) Sees Large Growth in Short Interest

Benitec Biopharma Inc. (NASDAQ:BNTC) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 174,800 shares, a growth of 17.6% from the February 13th total of 148,700 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 49,700 shares, the days-to-cover ratio is presently 3.5 days.

Benitec Biopharma Stock Up 0.9 %

Shares of Benitec Biopharma stock opened at $15.66 on Thursday. The firm has a market capitalization of $367.24 million, a P/E ratio of -10.37 and a beta of 0.92. The firm’s 50 day moving average is $11.69 and its two-hundred day moving average is $10.85. Benitec Biopharma has a 52 week low of $4.75 and a 52 week high of $15.97.

Benitec Biopharma (NASDAQ:BNTC) last announced its earnings results on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.19. As a group, research analysts expect that Benitec Biopharma will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Suvretta Capital Management, L bought 27,502 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $10.98 per share, with a total value of $301,971.96. Following the acquisition, the director now directly owns 7,981,725 shares in the company, valued at $87,639,340.50. This trade represents a 0.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Benitec Biopharma

Several hedge funds have recently modified their holdings of BNTC. Acuta Capital Partners LLC acquired a new stake in shares of Benitec Biopharma during the third quarter worth $274,000. Suvretta Capital Management LLC increased its position in 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 purchasing an additional 7,137,763 shares in the last quarter. Geode Capital Management LLC increased 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 worth $772,000 after purchasing an additional 20,012 shares in the last quarter. Franklin Resources Inc. increased its position in Benitec Biopharma by 269.0% during the 4th 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 in the last quarter. Finally, MYDA Advisors LLC purchased a new stake in Benitec Biopharma during the 4th quarter worth about $632,000. 52.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on BNTC. Robert W. Baird assumed coverage on shares of Benitec Biopharma in a report on Friday, December 13th. They set an “outperform” rating and a $30.00 target price for the company. Guggenheim reaffirmed a “buy” rating and set a $17.00 target price on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. Baird R W raised shares of Benitec Biopharma to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Benitec Biopharma in a report on Friday, February 21st. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $24.43.

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.