Suvretta Capital Management, L Acquires 900,000 Shares of Benitec Biopharma Inc. (NASDAQ:BNTC) Stock

Benitec Biopharma Inc. (NASDAQ:BNTC) Director Suvretta Capital Management, L acquired 900,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $11,700,000.00. Following the completion of the transaction, the director now owns 8,793,245 shares in the company, valued at approximately $114,312,185. This 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.

Benitec Biopharma Stock Down 2.2 %

Benitec Biopharma stock traded down $0.30 during midday trading on Friday, reaching $13.43. The stock had a trading volume of 54,182 shares, compared to its average volume of 54,769. The firm has a market cap of $314.95 million, a price-to-earnings ratio of -8.89 and a beta of 0.92. Benitec Biopharma Inc. has a 52-week low of $4.75 and a 52-week high of $16.90. The company has a fifty day moving average of $12.19 and a 200 day moving average of $11.09.

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

Institutional Trading of Benitec Biopharma

Several large investors have recently made changes to their positions in BNTC. Infinitum Asset Management LLC purchased a new position in Benitec Biopharma during the fourth quarter worth approximately $2,652,000. Suvretta Capital Management LLC raised its holdings in shares of Benitec Biopharma by 1.5% during the 4th quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company’s stock worth $113,165,000 after acquiring an additional 130,956 shares during the period. Lion Point Capital LP raised its stake in Benitec Biopharma by 59.0% during 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 period. Janus Henderson Group PLC raised its position in shares of Benitec Biopharma by 198.5% during the 4th quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock valued at $33,268,000 after buying an additional 1,739,904 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Benitec Biopharma by 138.4% during the 4th quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company’s stock worth $448,000 after purchasing an additional 20,597 shares during the period. 52.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BNTC. Robert W. Baird initiated coverage on shares of Benitec Biopharma in a research note 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 issued a $28.00 price objective on shares of Benitec Biopharma in a research report on Monday. Baird R W raised Benitec Biopharma to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Guggenheim reissued a “buy” rating and issued a $17.00 target price on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target 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.