Insider Buying: Benitec Biopharma Inc. (NASDAQ:BNTC) Director Purchases 900,000 Shares of Stock

Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L purchased 900,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average cost of $13.00 per share, with a total value of $11,700,000.00. Following the completion of the acquisition, the director now owns 8,793,245 shares of the company’s stock, valued at approximately $114,312,185. This trade represents a 11.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Benitec Biopharma Stock Performance

Shares of Benitec Biopharma stock traded down $0.30 during trading on Friday, reaching $13.43. The company’s stock had a trading volume of 54,182 shares, compared to its average volume of 54,769. Benitec Biopharma Inc. has a one year low of $4.75 and a one year high of $16.90. The business’s fifty day moving average price is $12.19 and its 200-day moving average price is $11.09. The firm has a market cap of $314.95 million, a price-to-earnings ratio of -8.89 and a beta of 0.92.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.19. Sell-side analysts anticipate that Benitec Biopharma Inc. will post -1.48 EPS for the current year.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors and hedge funds have recently modified their holdings of the business. Suvretta Capital Management LLC increased its position in shares of Benitec Biopharma by 1.5% during the 4th quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company’s stock worth $113,165,000 after purchasing an additional 130,956 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Benitec Biopharma by 269.0% in the 4th quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company’s stock valued at $37,123,000 after purchasing an additional 2,142,643 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Benitec Biopharma by 198.5% during the 4th quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock valued at $33,268,000 after acquiring an additional 1,739,904 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Benitec Biopharma by 134.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company’s stock worth $24,913,000 after purchasing an additional 1,131,129 shares during the last quarter. Finally, Infinitum Asset Management LLC acquired a new position in shares of Benitec Biopharma in the 4th quarter worth approximately $2,652,000. 52.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Baird R W upgraded Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. Guggenheim restated a “buy” rating and set a $17.00 target price on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Robert W. Baird started coverage on shares of Benitec Biopharma in a research note on Friday, December 13th. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Benitec Biopharma in a report on Monday. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Benitec Biopharma presently has an average rating of “Buy” and a consensus target price 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.