Ameriprise Financial Inc. Boosts Stake in Benitec Biopharma Inc. (NASDAQ:BNTC)

Ameriprise Financial Inc. raised its stake in Benitec Biopharma Inc. (NASDAQ:BNTC - Free Report) by 138.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,476 shares of the biotechnology company's stock after purchasing an additional 20,597 shares during the period. Ameriprise Financial Inc. owned about 0.15% of Benitec Biopharma worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of 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 acquiring an additional 2,142,643 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of 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 acquiring an additional 1,131,129 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Benitec Biopharma by 134.7% during the 4th quarter. Geode Capital Management LLC now owns 197,096 shares of the biotechnology company's stock worth $2,490,000 after acquiring an additional 113,109 shares in the last quarter. MYDA Advisors LLC acquired a new stake in shares of Benitec Biopharma during the 4th quarter worth about $632,000. Finally, 683 Capital Management LLC acquired a new stake in shares of Benitec Biopharma during the 4th quarter worth about $452,000. Institutional investors and hedge funds own 52.19% of the company's stock.

Insider Buying and Selling at Benitec Biopharma

In related news, Director Suvretta Capital Management, L bought 900,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $11,700,000.00. Following the purchase, the director now owns 8,793,245 shares of the company's stock, valued at $114,312,185. This trade represents a 11.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BNTC. HC Wainwright reissued a "buy" rating and set a $28.00 target price on shares of Benitec Biopharma in a research report on Monday, May 19th. JMP Securities reissued a "market outperform" rating and set a $20.00 target price on shares of Benitec Biopharma in a research report on Thursday, May 15th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $24.71.

Benitec Biopharma Stock Up 5.5%

NASDAQ:BNTC traded up $0.83 during mid-day trading on Friday, reaching $16.00. 63,784 shares of the stock were exchanged, compared to its average volume of 41,478. The company has a 50 day simple moving average of $13.71 and a 200-day simple moving average of $12.48. The stock has a market capitalization of $420 million, a P/E ratio of -10.60 and a beta of 0.44. Benitec Biopharma Inc. has a 1 year low of $5.74 and a 1 year high of $16.90.

Benitec Biopharma (NASDAQ:BNTC - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.36) by $0.12. As a group, research analysts predict that Benitec Biopharma Inc. will post -1.48 EPS for the current 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.