Benitec Biopharma (NASDAQ:BNTC) Coverage Initiated at HC Wainwright

Stock analysts at HC Wainwright assumed coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a note issued to investors on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $28.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 137.89% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on BNTC. Robert W. Baird assumed coverage on shares of Benitec Biopharma in a report on Friday. They set an “outperform” rating and a $30.00 target price on the stock. Guggenheim reiterated a “buy” rating and set a $17.00 price objective on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. JMP Securities raised their target price 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. Piper Sandler reaffirmed an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Finally, Oppenheimer started coverage on shares of Benitec Biopharma in a report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price target on the stock. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $24.43.

Benitec Biopharma Price Performance

NASDAQ BNTC opened at $11.77 on Monday. The company’s 50 day moving average is $10.55 and its 200-day moving average is $9.29. Benitec Biopharma has a 12-month low of $2.69 and a 12-month high of $13.22.

Insiders Place Their Bets

In related news, Director Suvretta Capital Management, L acquired 42,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average price of $9.60 per share, for a total transaction of $403,200.00. Following the completion of the transaction, the director now owns 7,957,365 shares of the company’s stock, valued at $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. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BNTC. GAMMA Investing LLC boosted 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 valued at $60,000 after buying an additional 1,102 shares during the period. Geode Capital Management LLC increased its stake in shares of Benitec Biopharma by 31.3% during the third 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. Acuta Capital Partners LLC bought a new position in Benitec Biopharma in the 3rd quarter worth $274,000. Simplify Asset Management Inc. bought a new position in Benitec Biopharma in the 2nd quarter worth $358,000. Finally, Nantahala Capital Management LLC purchased a new stake in shares of Benitec Biopharma in the 2nd quarter worth about $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.