Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Up 49.0% in October

Benitec Biopharma Inc. (NASDAQ:BNTC) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 56,900 shares, an increase of 49.0% from the October 15th total of 38,200 shares. Based on an average daily trading volume, of 28,900 shares, the days-to-cover ratio is currently 2.0 days.

Institutional Investors Weigh In On Benitec Biopharma

A number of large investors have recently modified their holdings of the business. Suvretta Capital Management LLC boosted its holdings 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 in the last quarter. Acuta Capital Partners LLC acquired a new stake in shares of Benitec Biopharma in the 3rd quarter valued at $274,000. Simplify Asset Management Inc. boosted its holdings in shares of Benitec Biopharma by 127.5% in 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 in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Benitec Biopharma by 20.3% in the 3rd quarter. GAMMA Investing LLC now owns 6,540 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 1,102 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new stake in shares of Benitec Biopharma in the 2nd quarter valued at $5,881,000. Institutional investors and hedge funds own 52.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BNTC shares. Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a research report on Friday, October 18th. Leerink Partnrs upgraded shares of Benitec Biopharma to a “strong-buy” rating in a research report on Monday, July 22nd. Leerink Partners assumed coverage on shares of Benitec Biopharma in a research report on Monday, July 22nd. They issued an “outperform” rating and a $13.00 price target for the company. Oppenheimer initiated coverage on Benitec Biopharma in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price target for the company. Finally, Guggenheim initiated coverage on Benitec Biopharma in a research report on Thursday, September 12th. They set a “buy” rating and a $17.00 price target on the stock. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $22.60.

Benitec Biopharma Trading Up 2.7 %

NASDAQ:BNTC traded up $0.28 during trading hours on Friday, reaching $10.68. 45,344 shares of the company were exchanged, compared to its average volume of 45,625. Benitec Biopharma has a 1-year low of $2.69 and a 1-year high of $12.89. The business has a 50 day moving average of $9.91 and a 200 day moving average of $9.04.

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.