Benitec Biopharma (NASDAQ:BNTC) Given Buy Rating at Guggenheim

Benitec Biopharma (NASDAQ:BNTC)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a research report issued on Tuesday,Benzinga reports. They currently have a $17.00 price target on the biotechnology company’s stock. Guggenheim’s price objective indicates a potential upside of 70.00% from the stock’s previous close.

Several other research analysts also recently commented on BNTC. Oppenheimer started coverage on shares of Benitec Biopharma in a research note on Wednesday, October 16th. They set an “outperform” rating and a $35.00 price target on the stock. JMP Securities upped their price target on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a report on Monday, October 14th. Finally, Piper Sandler reissued an “overweight” rating on shares of Benitec Biopharma in a research note on Friday, October 18th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.60.

Benitec Biopharma Stock Performance

Shares of NASDAQ BNTC traded up $0.24 during mid-day trading on Tuesday, reaching $10.00. 55,757 shares of the company were exchanged, compared to its average volume of 45,302. Benitec Biopharma has a 52 week low of $2.69 and a 52 week high of $12.89. The company’s 50 day moving average price is $10.22 and its 200 day moving average price is $9.15.

Hedge Funds Weigh In On Benitec Biopharma

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Benitec Biopharma by 53.0% during 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 in the last quarter. Acuta Capital Partners LLC purchased a new stake in shares of Benitec Biopharma during the 3rd quarter valued at about $274,000. Simplify Asset Management Inc. purchased a new position in shares of Benitec Biopharma during the 2nd quarter worth $358,000. Geode Capital Management LLC grew its holdings in Benitec Biopharma by 31.3% during the third quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock valued at $772,000 after purchasing an additional 20,012 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Benitec Biopharma by 35.5% in the 1st quarter. Janus Henderson Group PLC now owns 244,491 shares of the biotechnology company’s stock worth $1,266,000 after acquiring an additional 64,092 shares in the last quarter. 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.