Infinitum Asset Management LLC Raises Holdings in Benitec Biopharma Limited $BNTC

Key Points

• Infinitum Asset Management LLC increased its holdings in Benitec Biopharma by 435.7% during the first quarter, now owning approximately 1,125,000 shares valued at $14.6 million.
• Benitec Biopharma has a current average target price of $26.00 with several analysts rating the stock as a Buy, including HC Wainwright with a price objective of $28.00.
• The company's shares have a 12-month high of $17.15 and a low of $8.06, with a market capitalization of approximately $365.14 million.

Infinitum Asset Management LLC increased its position in Benitec Biopharma Limited (NASDAQ:BNTC - Free Report) by 435.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,125,000 shares of the biotechnology company's stock after acquiring an additional 915,000 shares during the quarter. Benitec Biopharma comprises about 4.7% of Infinitum Asset Management LLC's holdings, making the stock its 6th biggest holding. Infinitum Asset Management LLC owned 4.80% of Benitec Biopharma worth $14,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northern Trust Corp boosted its holdings in Benitec Biopharma by 54.2% in the 4th quarter. Northern Trust Corp now owns 38,200 shares of the biotechnology company's stock valued at $482,000 after purchasing an additional 13,425 shares during the period. Ameriprise Financial Inc. boosted its stake in Benitec Biopharma by 138.4% during the fourth quarter. Ameriprise Financial Inc. now owns 35,476 shares of the biotechnology company's stock valued at $448,000 after buying an additional 20,597 shares during the period. Janus Henderson Group PLC increased its stake in Benitec Biopharma by 198.5% in the 4th quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company's stock worth $33,268,000 after acquiring an additional 1,739,904 shares during the last quarter. Lion Point Capital LP raised its holdings in shares of Benitec Biopharma by 59.0% in the 4th quarter. Lion Point Capital LP now owns 62,000 shares of the biotechnology company's stock valued at $783,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Suvretta Capital Management LLC grew its holdings in shares of Benitec Biopharma by 1.5% during the fourth quarter. Suvretta Capital Management LLC now owns 8,960,009 shares of the biotechnology company's stock worth $113,165,000 after purchasing an additional 130,956 shares in the last quarter. Institutional investors own 52.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BNTC shares. JMP Securities reiterated a "market outperform" rating and set a $20.00 target price on shares of Benitec Biopharma in a research report on Thursday, May 15th. HC Wainwright reissued a "buy" rating and issued a $28.00 target price on shares of Benitec Biopharma in a research note on Monday, May 19th. Finally, TD Cowen started coverage on Benitec Biopharma in a research note on Monday, July 7th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $26.00.

Benitec Biopharma Trading Down 0.4%

Benitec Biopharma stock traded down $0.06 during trading hours on Friday, reaching $13.92. The company had a trading volume of 8,685 shares, compared to its average volume of 67,080. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.80 and a quick ratio of 14.80. Benitec Biopharma Limited has a 12-month low of $8.06 and a 12-month high of $17.15. The company has a 50-day moving average price of $12.52 and a 200 day moving average price of $13.36. The firm has a market cap of $365.40 million, a price-to-earnings ratio of -9.22 and a beta of 0.43.

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.