Simplify Asset Management Inc. Raises Holdings in Benitec Biopharma Limited $BNTC

Simplify Asset Management Inc. grew its position in shares of Benitec Biopharma Limited (NASDAQ:BNTC) by 271.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 562,242 shares of the biotechnology company’s stock after acquiring an additional 411,079 shares during the quarter. Simplify Asset Management Inc. owned about 1.64% of Benitec Biopharma worth $5,988,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BNTC. MYDA Advisors LLC grew its stake in shares of Benitec Biopharma by 221.4% during the fourth quarter. MYDA Advisors LLC now owns 225,000 shares of the biotechnology company’s stock valued at $3,031,000 after buying an additional 155,000 shares during the last quarter. Empery Asset Management LP purchased a new stake in shares of Benitec Biopharma in the fourth quarter worth approximately $747,000. SG Americas Securities LLC bought a new stake in shares of Benitec Biopharma during the 4th quarter worth approximately $111,000. Persistent Asset Partners Ltd bought a new stake in shares of Benitec Biopharma during the 4th quarter worth approximately $280,000. Finally, Squarepoint Ops LLC purchased a new position in Benitec Biopharma during the 4th quarter valued at $203,000. 52.19% of the stock is owned by hedge funds and other institutional investors.

Benitec Biopharma Price Performance

Shares of Benitec Biopharma stock opened at $13.22 on Friday. The firm’s 50 day moving average price is $11.80 and its 200-day moving average price is $11.82. Benitec Biopharma Limited has a 52-week low of $9.85 and a 52-week high of $16.76. The company has a market cap of $454.11 million, a P/E ratio of -11.60 and a beta of 0.25.

Benitec Biopharma (NASDAQ:BNTC) last posted its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.03. As a group, equities research analysts forecast that Benitec Biopharma Limited will post -1.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BNTC. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of Benitec Biopharma in a report on Monday, March 9th. Wall Street Zen cut shares of Benitec Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Benitec Biopharma in a research report on Monday, April 20th. TD Cowen reaffirmed a “buy” rating on shares of Benitec Biopharma in a research note on Monday, March 9th. Finally, Guggenheim downgraded shares of Benitec Biopharma from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 10th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Benitec Biopharma presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Benitec Biopharma Company Profile

Benitec Biopharma Ltd (NASDAQ: BNTC) is a clinical-stage biotechnology company developing gene-silencing therapies for serious human diseases. The company’s proprietary DNA-directed RNA interference (ddRNAi) platform is designed to enable sustained expression of small RNA molecules that specifically target and silence disease-causing genes. By integrating RNAi sequences directly into DNA constructs, ddRNAi aims to provide a long-term therapeutic effect from a single administration.

Benitec’s lead programs include development of ddRNAi candidates for chronic hepatitis B virus infection and for certain ocular conditions.