Benitec Biopharma Inc. (NASDAQ:BNTC) Sees Large Increase in Short Interest

Benitec Biopharma Inc. (NASDAQ:BNTC) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 174,800 shares, an increase of 17.6% from the February 13th total of 148,700 shares. Based on an average daily trading volume, of 49,700 shares, the days-to-cover ratio is presently 3.5 days. Currently, 0.8% of the company’s shares are sold short.

Insider Transactions at Benitec Biopharma

In related news, Director Suvretta Capital Management, L bought 27,502 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were purchased at an average price of $10.98 per share, with a total value of $301,971.96. Following the purchase, the director now owns 7,981,725 shares of the company’s stock, valued at approximately $87,639,340.50. This trade represents a 0.35 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Benitec Biopharma

A number of institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp lifted its stake in Benitec Biopharma by 54.2% during the 4th quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company’s stock valued at $482,000 after acquiring an additional 13,425 shares during the period. Geode Capital Management LLC raised its holdings 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 purchasing an additional 20,012 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Benitec Biopharma by 138.4% during the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock valued at $448,000 after purchasing an additional 20,597 shares during the period. Lion Point Capital LP boosted its holdings in Benitec Biopharma by 59.0% in the fourth quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company’s stock worth $783,000 after purchasing an additional 23,000 shares during the last quarter. Finally, Acuta Capital Partners LLC bought a new stake in Benitec Biopharma in the 3rd quarter worth approximately $274,000. Institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Price Performance

Shares of Benitec Biopharma stock opened at $15.52 on Wednesday. Benitec Biopharma has a 1 year low of $4.75 and a 1 year high of $16.36. The firm’s 50-day moving average is $11.60 and its 200 day moving average is $10.82. The stock has a market cap of $363.96 million, a price-to-earnings ratio of -10.28 and a beta of 0.92.

Benitec Biopharma (NASDAQ:BNTC) last posted its quarterly earnings results on Friday, February 14th. The biotechnology company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.19. On average, equities analysts expect that Benitec Biopharma will post -1.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in 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. Robert W. Baird initiated coverage on Benitec Biopharma in a report on Friday, December 13th. They issued an “outperform” rating and a $30.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $28.00 target price on shares of Benitec Biopharma in a report on Friday, February 21st. Finally, Baird R W upgraded shares of Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. Seven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Benitec Biopharma has an average rating of “Buy” and a consensus target price of $24.43.

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.