Benitec Biopharma Inc. (NASDAQ:BNTC) Sees Large Drop in Short Interest

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

Wall Street Analyst Weigh In

Several research analysts recently commented on BNTC shares. Piper Sandler reaffirmed an “overweight” rating on shares of Benitec Biopharma in a research note on Friday, October 18th. Guggenheim assumed coverage on shares of Benitec Biopharma in a research report on Thursday, September 12th. They set a “buy” rating and a $17.00 target price on the stock. JMP Securities boosted their price target on Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Finally, Oppenheimer initiated coverage on Benitec Biopharma in a report on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price objective on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $22.60.

Benitec Biopharma Price Performance

BNTC traded down $0.12 on Thursday, hitting $9.73. The company had a trading volume of 23,338 shares, compared to its average volume of 45,187. The stock has a fifty day moving average price of $10.16 and a 200-day moving average price of $9.12. Benitec Biopharma has a 12-month low of $2.69 and a 12-month high of $12.89.

Institutional Investors Weigh In On Benitec Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nantahala Capital Management LLC purchased a new stake in Benitec Biopharma in the second quarter valued at approximately $5,881,000. Janus Henderson Group PLC grew its position in 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 buying an additional 64,092 shares during the period. Simplify Asset Management Inc. increased its holdings in Benitec Biopharma by 127.5% in the third quarter. Simplify Asset Management Inc. now owns 116,535 shares of the biotechnology company’s stock valued at $1,071,000 after buying an additional 65,319 shares in the last quarter. GAMMA Investing LLC raised 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 worth $38,000 after acquiring an additional 1,884 shares during the period. Finally, Acuta Capital Partners LLC purchased a new stake in shares of Benitec Biopharma during the 3rd quarter worth about $274,000. Hedge funds and other institutional investors own 52.19% of the company’s stock.

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.