Benitec Biopharma Inc. (NASDAQ:BNTC) Shares Purchased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its stake in Benitec Biopharma Inc. (NASDAQ:BNTC - Free Report) by 134.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,972,524 shares of the biotechnology company's stock after acquiring an additional 1,131,129 shares during the quarter. Adage Capital Partners GP L.L.C. owned 8.49% of Benitec Biopharma worth $24,913,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Benitec Biopharma by 31.3% in the 3rd 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. MYDA Advisors LLC acquired a new stake in Benitec Biopharma during the 4th quarter worth approximately $632,000. Finally, Franklin Resources Inc. lifted its holdings 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 in the last quarter. 52.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JMP Securities increased their target price on shares of Benitec Biopharma from $18.00 to $20.00 and gave the stock a "market outperform" rating in a report on Thursday, April 10th. HC Wainwright reiterated a "buy" rating and set a $28.00 target price on shares of Benitec Biopharma in a report on Monday, March 24th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Benitec Biopharma currently has an average rating of "Buy" and an average price target of $24.71.

Benitec Biopharma Stock Performance

Shares of NASDAQ:BNTC traded up $0.85 during trading hours on Thursday, reaching $14.44. The stock had a trading volume of 37,045 shares, compared to its average volume of 41,166. Benitec Biopharma Inc. has a 1 year low of $5.74 and a 1 year high of $16.90. The firm's 50 day moving average is $13.24 and its 200-day moving average is $11.76. The stock has a market capitalization of $338.52 million, a price-to-earnings ratio of -9.56 and a beta of 0.76.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The biotechnology company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.19. Analysts forecast that Benitec Biopharma Inc. will post -1.48 EPS for the current year.

Insider Activity at Benitec Biopharma

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

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.