Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Down 41.8% in November

Benitec Biopharma Inc. (NASDAQ:BNTC) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 33,100 shares, a decrease of 41.8% from the October 31st total of 56,900 shares. Based on an average daily trading volume, of 32,700 shares, the short-interest ratio is presently 1.0 days.

Hedge Funds Weigh In On Benitec Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in BNTC. Geode Capital Management LLC raised its position 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 valued at $772,000 after buying an additional 20,012 shares in the last quarter. Suvretta Capital Management LLC lifted its stake in shares of Benitec Biopharma by 422.0% in the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock valued at $81,139,000 after purchasing an additional 7,137,763 shares during the last quarter. Acuta Capital Partners LLC purchased a new position in shares of Benitec Biopharma in the 3rd quarter worth approximately $274,000. Simplify Asset Management Inc. increased its position in shares of Benitec Biopharma by 127.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock valued at $1,071,000 after purchasing an additional 65,319 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Benitec Biopharma by 20.3% during the 3rd quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 1,102 shares during the period. 52.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BNTC has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on Benitec Biopharma in a report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price target on the stock. Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Guggenheim assumed coverage on shares of Benitec Biopharma in a report on Thursday, September 12th. They set a “buy” rating and a $17.00 price objective for the company. Finally, JMP Securities boosted their target price on shares of Benitec Biopharma from $16.00 to $18.00 and gave the stock a “market outperform” rating in a report on Monday, October 14th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $22.60.

Benitec Biopharma Stock Down 1.2 %

Shares of BNTC traded down $0.12 during mid-day trading on Thursday, hitting $9.73. 23,338 shares of the stock were exchanged, compared to its average volume of 45,187. The firm has a 50-day moving average of $10.16 and a two-hundred day moving average of $9.12. Benitec Biopharma has a 52-week low of $2.69 and a 52-week high of $12.89.

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.