Simplify Asset Management Inc. Trims Stake in Benitec Biopharma Inc. (NASDAQ:BNTC)

Simplify Asset Management Inc. lessened its position in shares of Benitec Biopharma Inc. (NASDAQ:BNTC) by 34.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,337 shares of the biotechnology company’s stock after selling 40,198 shares during the quarter. Simplify Asset Management Inc. owned about 0.33% of Benitec Biopharma worth $964,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Benitec Biopharma by 31.3% during the third quarter. Geode Capital Management LLC now owns 83,987 shares of the biotechnology company’s stock worth $772,000 after acquiring an additional 20,012 shares during the last quarter. Acuta Capital Partners LLC acquired a new stake in Benitec Biopharma during the 3rd quarter worth $274,000. Finally, Suvretta Capital Management LLC grew its position in Benitec Biopharma by 422.0% during the 3rd quarter. Suvretta Capital Management LLC now owns 8,829,053 shares of the biotechnology company’s stock worth $81,139,000 after purchasing an additional 7,137,763 shares during the last quarter. Institutional investors and hedge funds own 52.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Suvretta Capital Management, L acquired 27,502 shares of Benitec Biopharma stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $10.98 per share, with a total value of $301,971.96. Following the completion of the acquisition, the director now owns 7,981,725 shares in the company, valued at $87,639,340.50. This trade represents a 0.35 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on BNTC shares. HC Wainwright reaffirmed a “buy” rating and issued a $28.00 target price on shares of Benitec Biopharma in a report on Friday, February 21st. Robert W. Baird began coverage on Benitec Biopharma in a research report on Friday, December 13th. They set an “outperform” rating and a $30.00 price objective for the company. Baird R W raised Benitec Biopharma to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Guggenheim reaffirmed a “buy” rating and set a $17.00 price target on shares of Benitec Biopharma in a report on Tuesday, December 3rd. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Benitec Biopharma has an average rating of “Buy” and an average price target of $24.43.

Benitec Biopharma Price Performance

Benitec Biopharma stock opened at $16.11 on Friday. The stock’s 50 day moving average price is $11.91 and its 200 day moving average price is $10.95. Benitec Biopharma Inc. has a 1-year low of $4.75 and a 1-year high of $16.90. The company has a market cap of $377.80 million, a PE ratio of -10.67 and a beta of 0.92.

Benitec Biopharma (NASDAQ:BNTC) last issued its earnings results on Friday, February 14th. The biotechnology company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.19. On average, equities research analysts anticipate that Benitec Biopharma Inc. will post -1.48 EPS for the current fiscal year.

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.