Benitec Biopharma (NASDAQ:BNTC) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Benitec Biopharma (NASDAQ:BNTC) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $20.00 target price on the biotechnology company’s stock.

Separately, HC Wainwright restated a “buy” rating and set a $28.00 price objective on shares of Benitec Biopharma in a report on Monday, March 24th. Seven equities 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 data from MarketBeat, Benitec Biopharma presently has a consensus rating of “Buy” and an average target price of $24.71.

Benitec Biopharma Trading Down 0.6%

Shares of NASDAQ:BNTC opened at $13.50 on Thursday. The stock’s 50-day moving average price is $13.67 and its two-hundred day moving average price is $12.00. Benitec Biopharma has a 12-month low of $5.74 and a 12-month high of $16.90. The firm has a market cap of $316.59 million, a price-to-earnings ratio of -8.94 and a beta of 0.34.

Benitec Biopharma (NASDAQ:BNTC) last released its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.12. As a group, research analysts forecast that Benitec Biopharma will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Suvretta Capital Management, L purchased 900,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average cost of $13.00 per share, with a total value of $11,700,000.00. Following the acquisition, the director now owns 8,793,245 shares in the company, valued at approximately $114,312,185. This trade represents a 11.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Benitec Biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AWM Investment Company Inc. increased its position in shares of Benitec Biopharma by 35.2% during the first quarter. AWM Investment Company Inc. now owns 137,977 shares of the biotechnology company’s stock worth $1,795,000 after acquiring an additional 35,950 shares during the last quarter. MYDA Advisors LLC increased its holdings in Benitec Biopharma by 4.0% during the 1st quarter. MYDA Advisors LLC now owns 52,000 shares of the biotechnology company’s stock worth $677,000 after purchasing an additional 2,000 shares during the last quarter. Informed Momentum Co LLC acquired a new position in shares of Benitec Biopharma in the 1st quarter valued at approximately $512,000. GAMMA Investing LLC boosted its stake in shares of Benitec Biopharma by 1,104.3% during the 1st quarter. GAMMA Investing LLC now owns 77,605 shares of the biotechnology company’s stock valued at $1,010,000 after buying an additional 71,161 shares during the last quarter. Finally, Infinitum Asset Management LLC acquired a new stake in shares of Benitec Biopharma during the fourth quarter worth approximately $2,652,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

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.