MYDA Advisors LLC Acquires New Position in Benitec Biopharma Inc. (NASDAQ:BNTC)

MYDA Advisors LLC bought a new position in Benitec Biopharma Inc. (NASDAQ:BNTC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 50,000 shares of the biotechnology company’s stock, valued at approximately $632,000. MYDA Advisors LLC owned about 0.22% of Benitec Biopharma as of its most recent filing with the Securities & Exchange Commission.

Separately, Franklin Resources Inc. raised its holdings in Benitec Biopharma by 269.0% in the 4th quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company’s stock worth $37,123,000 after acquiring an additional 2,142,643 shares during the last quarter. Institutional investors own 52.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BNTC. HC Wainwright reissued a “buy” rating and issued a $28.00 target price on shares of Benitec Biopharma in a report on Monday, March 24th. JMP Securities lifted their price objective on Benitec Biopharma from $18.00 to $20.00 and gave the stock a “market outperform” rating in a report on Thursday, April 10th. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $24.71.

Benitec Biopharma Stock Performance

BNTC stock opened at $13.75 on Friday. The company has a market cap of $322.45 million, a price-to-earnings ratio of -9.11 and a beta of 0.76. The business’s 50-day moving average is $12.80 and its two-hundred day moving average is $11.55. Benitec Biopharma Inc. has a fifty-two week low of $5.74 and a fifty-two week high of $16.90.

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

Insider Activity at Benitec Biopharma

In other news, Director Suvretta Capital Management, L purchased 900,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were acquired at an average price of $13.00 per share, with a total value of $11,700,000.00. Following the completion of the acquisition, the director now directly owns 8,793,245 shares of the company’s stock, valued at $114,312,185. This trade represents a 11.40 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

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.