GAMMA Investing LLC Grows Stake in Benitec Biopharma Inc. (NASDAQ:BNTC)

GAMMA Investing LLC grew its holdings in Benitec Biopharma Inc. (NASDAQ:BNTC) by 1,104.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 77,605 shares of the biotechnology company’s stock after acquiring an additional 71,161 shares during the quarter. GAMMA Investing LLC owned about 0.33% of Benitec Biopharma worth $1,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Suvretta Capital Management LLC grew its stake in Benitec Biopharma by 1.5% during the 4th quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company’s stock worth $113,165,000 after buying an additional 130,956 shares during the last quarter. Franklin Resources Inc. grew its stake in Benitec Biopharma by 269.0% during the 4th quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company’s stock worth $37,123,000 after buying an additional 2,142,643 shares during the last quarter. Janus Henderson Group PLC grew its stake in Benitec Biopharma by 198.5% during the 4th quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company’s stock worth $33,268,000 after buying an additional 1,739,904 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Benitec Biopharma by 134.4% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company’s stock worth $24,913,000 after buying an additional 1,131,129 shares during the last quarter. Finally, Infinitum Asset Management LLC purchased a new position in Benitec Biopharma during the 4th quarter worth approximately $2,652,000. Hedge funds and other institutional investors own 52.19% of the company’s stock.

Benitec Biopharma Trading Down 4.4%

Shares of BNTC stock opened at $15.75 on Tuesday. The business’s 50 day moving average is $14.20 and its two-hundred day moving average is $12.74. Benitec Biopharma Inc. has a twelve month low of $5.74 and a twelve month high of $17.15. The company has a market capitalization of $413.44 million, a P/E ratio of -10.43 and a beta of 0.44.

Benitec Biopharma (NASDAQ:BNTC) last announced its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.12. As a group, equities analysts predict that Benitec Biopharma Inc. will post -1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $20.00 price target on shares of Benitec Biopharma in a research note on Thursday, May 15th. HC Wainwright reiterated a “buy” rating and issued a $28.00 target price on shares of Benitec Biopharma in a research note on Monday, May 19th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $23.83.

Insider Activity

In other Benitec Biopharma news, Director Suvretta Capital Management, L purchased 900,000 shares of Benitec Biopharma stock in a transaction dated Wednesday, March 26th. The stock was acquired at an average cost of $13.00 per share, with a total value of $11,700,000.00. Following the acquisition, the director now directly owns 8,793,245 shares of the company’s stock, valued at $114,312,185. This represents a 11.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Benitec Biopharma 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.