Benitec Biopharma Inc. (NASDAQ:BNTC) Short Interest Down 68.3% in March

Benitec Biopharma Inc. (NASDAQ:BNTC) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 5,100 shares, a decrease of 68.3% from the February 29th total of 16,100 shares. Based on an average daily volume of 14,500 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC bought a new position in shares of Benitec Biopharma during the 2nd quarter valued at approximately $29,000. Renaissance Technologies LLC bought a new stake in Benitec Biopharma in the third quarter worth $45,000. Vanguard Group Inc. bought a new stake in Benitec Biopharma in the fourth quarter worth $54,000. Virtu Financial LLC bought a new stake in Benitec Biopharma in the second quarter worth $55,000. Finally, Morgan Stanley lifted its position in Benitec Biopharma by 385.5% in the fourth quarter. Morgan Stanley now owns 368,923 shares of the biotechnology company’s stock worth $63,000 after buying an additional 292,929 shares during the last quarter. 52.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JMP Securities upped their price target on shares of Benitec Biopharma from $8.00 to $10.00 and gave the company a “market outperform” rating in a research report on Thursday, February 15th.

Benitec Biopharma Stock Up 2.3 %

Benitec Biopharma stock traded up $0.12 during midday trading on Thursday, hitting $5.25. The stock had a trading volume of 20,970 shares, compared to its average volume of 15,247. The firm’s fifty day moving average is $3.91 and its two-hundred day moving average is $3.49. Benitec Biopharma has a 52-week low of $1.86 and a 52-week high of $9.01. The company has a current ratio of 3.62, a quick ratio of 3.62 and a debt-to-equity ratio of 0.01.

Benitec Biopharma (NASDAQ:BNTC) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported ($2.64) earnings per share (EPS) for the quarter.

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.