Benitec Biopharma Inc. (NASDAQ:BNTC) Receives $24.43 Average Price Target from Analysts

Shares of Benitec Biopharma Inc. (NASDAQ:BNTC) have received a consensus rating of “Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $24.43.

Several analysts recently issued reports on BNTC shares. Guggenheim reiterated a “buy” rating and set a $17.00 target price 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 report on Thursday, December 12th. HC Wainwright started coverage on Benitec Biopharma in a report on Monday, December 16th. They set a “buy” rating and a $28.00 target price on the stock. Piper Sandler reiterated an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Finally, Robert W. Baird started coverage on Benitec Biopharma in a report on Friday, December 13th. They set an “outperform” rating and a $30.00 target price on the stock.

Insiders Place Their Bets

In other news, Director Suvretta Capital Management, L bought 42,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $9.60 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Benitec Biopharma by 31.3% in the third quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock valued at $772,000 after purchasing an additional 20,012 shares during the last quarter. Suvretta Capital Management LLC grew its position in shares of Benitec Biopharma by 422.0% in the third quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock valued at $81,139,000 after purchasing an additional 7,137,763 shares during the last quarter. Acuta Capital Partners LLC acquired a new position in shares of Benitec Biopharma in the third quarter valued at approximately $274,000. Simplify Asset Management Inc. grew its position in shares of Benitec Biopharma by 127.5% in the third 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 during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Benitec Biopharma by 20.3% in the third 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 last quarter. Institutional investors and hedge funds own 52.19% of the company’s stock.

Benitec Biopharma Stock Performance

Shares of Benitec Biopharma stock opened at $10.76 on Friday. The stock’s 50-day moving average is $11.14 and its 200-day moving average is $10.09. Benitec Biopharma has a one year low of $2.70 and a one year high of $13.29.

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.