Insider Buying: Benitec Biopharma Inc. (NASDAQ:BNTC) Director Acquires $301,971.96 in Stock

Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L bought 27,502 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $10.98 per share, for a total transaction of $301,971.96. Following the purchase, the director now owns 7,981,725 shares in the company, valued at approximately $87,639,340.50. This represents a 0.35 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Suvretta Capital Management, L also recently made the following trade(s):

• On Tuesday, December 3rd, Suvretta Capital Management, L acquired 42,000 shares of Benitec Biopharma stock. The stock was purchased at an average cost of $9.60 per share, with a total value of $403,200.00.

Benitec Biopharma Stock Performance

Shares of BNTC opened at $12.00 on Friday. Benitec Biopharma Inc. has a one year low of $2.69 and a one year high of $13.29. The stock’s fifty day moving average is $10.90 and its 200-day moving average is $9.57. The firm has a market capitalization of $278.59 million, a price-to-earnings ratio of -4.23 and a beta of 0.88.

Hedge Funds Weigh In On Benitec Biopharma

Several large investors have recently bought and sold shares of BNTC. Geode Capital Management LLC lifted its stake in shares of Benitec Biopharma by 31.3% in the 3rd quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock worth $772,000 after acquiring an additional 20,012 shares during the period. Suvretta Capital Management LLC raised its holdings in Benitec Biopharma by 422.0% during the third 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. Acuta Capital Partners LLC acquired a new stake in Benitec Biopharma in the third quarter worth approximately $274,000. Simplify Asset Management Inc. boosted its stake in Benitec Biopharma by 127.5% during the 3rd 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 in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Benitec Biopharma by 20.3% during the 3rd quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 1,102 shares during the period. Institutional investors and hedge funds own 52.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BNTC shares. JMP Securities raised their price objective on Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Monday, October 14th. Guggenheim reissued a “buy” rating and issued a $17.00 price target on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Baird R W upgraded Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. Robert W. Baird initiated coverage on Benitec Biopharma in a research note on Friday, December 13th. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Oppenheimer initiated coverage on shares of Benitec Biopharma in a research report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.