Suvretta Capital Management LLC Increases Stake in Benitec Biopharma Inc. (NASDAQ:BNTC)

Suvretta Capital Management LLC lifted its holdings in shares of Benitec Biopharma Inc. (NASDAQ:BNTC) by 422.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,829,053 shares of the biotechnology company’s stock after purchasing an additional 7,137,763 shares during the period. Benitec Biopharma accounts for about 2.6% of Suvretta Capital Management LLC’s portfolio, making the stock its 8th largest position. Suvretta Capital Management LLC owned 0.84% of Benitec Biopharma worth $81,139,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of Benitec Biopharma by 20.3% during the third 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. Acuta Capital Partners LLC bought a new stake in shares of Benitec Biopharma during the third quarter worth $274,000. Simplify Asset Management Inc. bought a new stake in shares of Benitec Biopharma during the second quarter worth $358,000. Janus Henderson Group PLC lifted its stake in shares of Benitec Biopharma by 35.5% during the first quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock valued at $1,266,000 after acquiring an additional 64,092 shares during the period. Finally, Nantahala Capital Management LLC acquired a new position in shares of Benitec Biopharma during the second quarter valued at $5,881,000. Institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Price Performance

NASDAQ:BNTC opened at $9.73 on Friday. Benitec Biopharma Inc. has a 1-year low of $2.69 and a 1-year high of $12.89. The business’s 50-day moving average price is $10.16 and its two-hundred day moving average price is $9.12.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BNTC. 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 research note on Monday, October 14th. Guggenheim began coverage on Benitec Biopharma in a research note on Thursday, September 12th. They set a “buy” rating and a $17.00 price target on the stock. Oppenheimer began coverage on Benitec Biopharma in a research note on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Benitec Biopharma in a research note on Friday, October 18th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $22.60.

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.