Benitec Biopharma (NASDAQ:BNTC) Director Suvretta Capital Management, L Purchases 1,481,481 Shares

Benitec Biopharma Limited (NASDAQ:BNTC) Director Suvretta Capital Management, L bought 1,481,481 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average cost of $13.50 per share, with a total value of $19,999,993.50. Following the completion of the transaction, the director directly owned 9,538,175 shares in the company, valued at $128,765,362.50. This represents a 18.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Benitec Biopharma Stock Up 0.8%

NASDAQ:BNTC traded up $0.10 on Monday, hitting $12.89. The stock had a trading volume of 461,431 shares, compared to its average volume of 81,712. The company has a quick ratio of 54.67, a current ratio of 54.67 and a debt-to-equity ratio of 0.01. Benitec Biopharma Limited has a 52 week low of $9.10 and a 52 week high of $17.15. The business’s fifty day moving average is $14.50 and its 200 day moving average is $13.76. The company has a market cap of $338.36 million, a PE ratio of -8.77 and a beta of 0.23.

Benitec Biopharma (NASDAQ:BNTC) last released its quarterly earnings data on Thursday, September 25th. The biotechnology company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.18). On average, equities research analysts expect that Benitec Biopharma Limited will post -1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BNTC. Police & Firemen s Retirement System of New Jersey bought a new stake in Benitec Biopharma during the second quarter valued at $38,000. JPMorgan Chase & Co. bought a new stake in shares of Benitec Biopharma during the 2nd quarter valued at about $80,000. Bank of America Corp DE boosted its position in shares of Benitec Biopharma by 2,255.8% during the 2nd quarter. Bank of America Corp DE now owns 6,879 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 6,587 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Benitec Biopharma during the second quarter valued at approximately $93,000. Finally, New York State Common Retirement Fund bought a new stake in Benitec Biopharma during the second quarter valued at approximately $95,000. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BNTC has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Benitec Biopharma in a report on Wednesday, October 8th. HC Wainwright raised their price target on shares of Benitec Biopharma from $28.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded Benitec Biopharma from a “hold” rating to a “sell” rating in a research note on Saturday. Citizens Jmp boosted their price objective on Benitec Biopharma from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 4th. Finally, Zacks Research downgraded Benitec Biopharma from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Benitec Biopharma currently has an average rating of “Moderate Buy” and an average target price of $25.83.

Benitec Biopharma Company Profile

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.