Benitec Biopharma Inc. (NASDAQ:BNTC – Get Free Report) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 68,000 shares, a decline of 18.2% from the July 15th total of 83,100 shares. Based on an average trading volume of 37,100 shares, the days-to-cover ratio is presently 1.8 days.
Analyst Ratings Changes
Several research analysts have recently commented on BNTC shares. SVB Leerink started coverage on shares of Benitec Biopharma in a research note on Monday, July 22nd. They set an “outperform” rating and a $13.00 price target on the stock. Leerink Partnrs upgraded Benitec Biopharma to a “strong-buy” rating in a report on Monday, July 22nd. JMP Securities upped their price target on Benitec Biopharma from $10.00 to $16.00 and gave the stock a “market outperform” rating in a research note on Monday, April 22nd. Finally, Piper Sandler assumed coverage on Benitec Biopharma in a research note on Thursday, June 13th. They issued an “overweight” rating and a $30.00 price objective on the stock.
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Benitec Biopharma Stock Performance
Institutional Investors Weigh In On Benitec Biopharma
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in Benitec Biopharma by 35.5% during the 1st quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock valued at $1,266,000 after purchasing an additional 64,092 shares during the period. Simplify Asset Management Inc. acquired a new position in shares of Benitec Biopharma during the second quarter worth approximately $358,000. Finally, GAMMA Investing LLC boosted its position in shares of Benitec Biopharma by 53.0% in the second quarter. GAMMA Investing LLC now owns 5,438 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 1,884 shares during the period. 52.19% of the stock is owned by institutional investors and hedge funds.
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.
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