Guggenheim Initiates Coverage on Benitec Biopharma (NASDAQ:BNTC)

Guggenheim assumed coverage on shares of Benitec Biopharma (NASDAQ:BNTC) in a research note released on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $17.00 price objective on the biotechnology company’s stock.

A number of other equities research analysts also recently weighed in on BNTC. Leerink Partnrs raised shares of Benitec Biopharma to a strong-buy rating in a research report on Monday, July 22nd. Piper Sandler started coverage on Benitec Biopharma in a research note on Thursday, June 13th. They issued an overweight rating and a $30.00 target price for the company. Finally, Leerink Partners began coverage on Benitec Biopharma in a research report on Monday, July 22nd. They set an outperform rating and a $13.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Benitec Biopharma has a consensus rating of Buy and an average price target of $19.00.

Benitec Biopharma Stock Down 0.1 %

BNTC stock opened at $8.15 on Thursday. The firm has a market cap of $82.23 million, a price-to-earnings ratio of -4.48 and a beta of 0.90. Benitec Biopharma has a 1-year low of $2.69 and a 1-year high of $10.88. The firm has a fifty day moving average price of $9.02 and a two-hundred day moving average price of $7.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.18 and a quick ratio of 4.18.

Institutional Trading of Benitec Biopharma

Several hedge funds have recently bought and sold shares of BNTC. GAMMA Investing LLC increased its stake 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 purchasing an additional 1,884 shares during the period. Simplify Asset Management Inc. acquired a new stake in Benitec Biopharma in the 2nd quarter valued at approximately $358,000. Janus Henderson Group PLC raised 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 acquiring an additional 64,092 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new position in Benitec Biopharma during the 2nd quarter worth $5,881,000. 52.19% of the stock is currently owned by institutional investors.

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.