Lion Point Capital LP Increases Position in Benitec Biopharma Inc. (NASDAQ:BNTC)

Lion Point Capital LP raised its stake in Benitec Biopharma Inc. (NASDAQ:BNTC - Free Report) by 59.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 62,000 shares of the biotechnology company's stock after buying an additional 23,000 shares during the quarter. Benitec Biopharma makes up about 4.1% of Lion Point Capital LP's investment portfolio, making the stock its 10th largest holding. Lion Point Capital LP owned about 0.27% of Benitec Biopharma worth $783,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. raised its position in Benitec Biopharma by 269.0% during the fourth quarter. Franklin Resources Inc. now owns 2,939,287 shares of the biotechnology company's stock valued at $37,123,000 after acquiring an additional 2,142,643 shares in the last quarter. Janus Henderson Group PLC boosted its position in Benitec Biopharma by 198.5% during the fourth quarter. Janus Henderson Group PLC now owns 2,616,427 shares of the biotechnology company's stock worth $33,268,000 after purchasing an additional 1,739,904 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in Benitec Biopharma by 134.4% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,972,524 shares of the biotechnology company's stock valued at $24,913,000 after purchasing an additional 1,131,129 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Benitec Biopharma by 134.7% in the fourth quarter. Geode Capital Management LLC now owns 197,096 shares of the biotechnology company's stock valued at $2,490,000 after purchasing an additional 113,109 shares during the period. Finally, MYDA Advisors LLC acquired a new stake in shares of Benitec Biopharma in the fourth quarter worth $632,000. Institutional investors own 52.19% of the company's stock.

Benitec Biopharma Stock Performance

Shares of BNTC traded down $0.08 during mid-day trading on Thursday, reaching $13.50. The company had a trading volume of 29,356 shares, compared to its average volume of 40,984. The company's 50 day simple moving average is $13.64 and its 200 day simple moving average is $11.98. The company has a market capitalization of $316.59 million, a price-to-earnings ratio of -8.94 and a beta of 0.34. 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 issued 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, equities analysts forecast that Benitec Biopharma Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Activity

In other Benitec Biopharma news, Director Suvretta Capital Management, L purchased 900,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were purchased at an average price 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 in the company, valued at approximately $114,312,185. The trade was a 11.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $28.00 price target on shares of Benitec Biopharma in a report on Monday, March 24th. JMP Securities reissued a "market outperform" rating and issued a $20.00 price objective on shares of Benitec Biopharma in a research note on Thursday. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Benitec Biopharma presently has a consensus rating of "Buy" and a consensus price target of $24.71.

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.