Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Down 41.8% in November

Benitec Biopharma Inc. (NASDAQ:BNTC) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 33,100 shares, a decline of 41.8% from the October 31st total of 56,900 shares. Based on an average daily trading volume, of 32,700 shares, the short-interest ratio is presently 1.0 days.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JMP Securities boosted their target price on Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a report on Monday, October 14th. Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Oppenheimer assumed coverage on Benitec Biopharma in a report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 target price on the stock. Finally, Guggenheim assumed coverage on Benitec Biopharma in a report on Thursday, September 12th. They set a “buy” rating and a $17.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Benitec Biopharma currently has a consensus rating of “Buy” and an average target price of $22.60.

Benitec Biopharma Price Performance

Shares of NASDAQ BNTC traded up $0.36 during trading on Friday, hitting $10.09. The company had a trading volume of 65,150 shares, compared to its average volume of 45,274. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $12.89. The business’s 50-day moving average is $10.19 and its 200 day moving average is $9.13.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew 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. Suvretta Capital Management LLC grew 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. Acuta Capital Partners LLC purchased a new position in Benitec Biopharma during the 3rd quarter worth approximately $274,000. Simplify Asset Management Inc. grew its position 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 worth $1,071,000 after purchasing an additional 65,319 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Benitec Biopharma by 20.3% during 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 in the last quarter. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

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.