Benitec Biopharma Inc. (NASDAQ:BNTC) Given Consensus Recommendation of “Buy” by Brokerages

Benitec Biopharma Inc. (NASDAQ:BNTC) has been assigned an average rating of “Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $24.43.

Several research firms have recently weighed in on BNTC. Oppenheimer began coverage on shares of Benitec Biopharma in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price objective for the company. Piper Sandler restated an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. JMP Securities upped their price objective on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Guggenheim restated a “buy” rating and issued a $17.00 target price on shares of Benitec Biopharma in a research note on Tuesday, December 3rd. Finally, Robert W. Baird initiated coverage on Benitec Biopharma in a research note on Friday, December 13th. They set an “outperform” rating and a $30.00 price target on the stock.

Insider Transactions at Benitec Biopharma

In other news, Director Suvretta Capital Management, L bought 27,502 shares of Benitec Biopharma stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $10.98 per share, for a total transaction of $301,971.96. Following the purchase, the director now directly owns 7,981,725 shares in the company, valued at $87,639,340.50. The trade was a 0.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Benitec Biopharma by 20.3% in 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 last quarter. Acuta Capital Partners LLC bought a new position in shares of Benitec Biopharma in the third quarter valued at approximately $274,000. Simplify Asset Management Inc. bought a new stake in Benitec Biopharma during the second quarter worth $358,000. Geode Capital Management LLC boosted its position in Benitec Biopharma by 31.3% in the third 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 during the last quarter. Finally, Nantahala Capital Management LLC bought a new position in Benitec Biopharma in the 2nd quarter valued at $5,881,000. 52.19% of the stock is owned by institutional investors.

Benitec Biopharma Price Performance

NASDAQ BNTC opened at $12.10 on Monday. The stock has a market capitalization of $280.91 million, a P/E ratio of -4.26 and a beta of 0.89. The business has a 50 day simple moving average of $11.05 and a 200 day simple moving average of $9.74. Benitec Biopharma has a one year low of $2.69 and a one year high of $13.29.

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.