Insider Buying: Benitec Biopharma Inc. (NASDAQ:BNTC) Director Buys 27,502 Shares of Stock

Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L acquired 27,502 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost 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 approximately $87,639,340.50. The trade was a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Suvretta Capital Management, L also recently made the following trade(s):

• On Tuesday, December 3rd, Suvretta Capital Management, L bought 42,000 shares of Benitec Biopharma stock. The shares were acquired at an average cost of $9.60 per share, with a total value of $403,200.00.

Benitec Biopharma Price Performance

Benitec Biopharma stock opened at $12.00 on Friday. Benitec Biopharma Inc. has a 12 month low of $2.69 and a 12 month high of $13.29. The stock has a market cap of $278.59 million, a P/E ratio of -4.23 and a beta of 0.88. The company’s fifty day simple moving average is $10.90 and its 200-day simple moving average is $9.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Benitec Biopharma by 31.3% during the 3rd 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 in the last quarter. Suvretta Capital Management LLC raised its position in Benitec Biopharma by 422.0% during 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 acquiring an additional 7,137,763 shares in the last quarter. Acuta Capital Partners LLC acquired a new stake in Benitec Biopharma in the third quarter valued at approximately $274,000. Simplify Asset Management Inc. grew its position in Benitec Biopharma by 127.5% in the third quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock worth $1,071,000 after acquiring an additional 65,319 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Benitec Biopharma by 20.3% during the 3rd quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 1,102 shares during the last quarter. Hedge funds and other institutional investors own 52.19% of the company’s stock.

Wall Street Analyst Weigh In

BNTC has been the topic of several research reports. JMP Securities upped their price target on Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Oppenheimer assumed coverage on shares of Benitec Biopharma in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 target price on the stock. Guggenheim restated a “buy” rating and set a $17.00 price target on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Piper Sandler reaffirmed an “overweight” rating on shares of Benitec Biopharma in a research note on Friday, October 18th. Finally, HC Wainwright began coverage on Benitec Biopharma in a report on Monday, December 16th. They issued a “buy” rating and a $28.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Benitec Biopharma has a consensus rating of “Buy” and an average 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.