Benitec Biopharma’s (BNTC) Buy Rating Reaffirmed at Guggenheim

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

A number of other research analysts also recently issued reports on the company. Oppenheimer assumed coverage on Benitec Biopharma in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $35.00 price objective for the company. Piper Sandler restated an “overweight” rating on shares of Benitec Biopharma in a report on Friday, October 18th. Finally, JMP Securities boosted their target price on shares of Benitec Biopharma from $16.00 to $18.00 and gave the company a “market outperform” rating in a research note on Monday, October 14th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.60.

Benitec Biopharma Price Performance

Shares of NASDAQ BNTC traded up $0.24 during midday trading on Tuesday, reaching $10.00. The company’s stock had a trading volume of 55,757 shares, compared to its average volume of 45,302. The firm has a 50 day moving average price of $10.22 and a 200-day moving average price of $9.15. Benitec Biopharma has a 12-month low of $2.69 and a 12-month high of $12.89.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. 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 buying an additional 1,884 shares during the period. Acuta Capital Partners LLC purchased a new stake in Benitec Biopharma in the 3rd quarter worth approximately $274,000. Simplify Asset Management Inc. purchased a new stake in Benitec Biopharma in the 2nd quarter worth approximately $358,000. Geode Capital Management LLC boosted its holdings in Benitec Biopharma by 31.3% in the 3rd 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 grew its position in shares of 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 purchasing an additional 64,092 shares in the last quarter. 52.19% of the stock is currently owned by hedge funds and other institutional investors.

Benitec Biopharma Company Profile

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.