Dell falls as soft current quarter guide offsets Q2 beat, full-year outlook lift
Suvretta Capital Management, LLC, has made a significant investment in Benitec Biopharma Inc. (NASDAQ:BNTC), acquiring shares valued at $11.7 million. The purchases were made through Averill Master Fund, Ltd. and Averill Madison Master Fund, Ltd. on March 26, 2025, at a price of $13 per share. The investment comes as BNTC shares have shown strong momentum, gaining nearly 50% over the past six months despite a recent 15% pullback last week.
According to the SEC filing, Suvretta Capital, along with the funds it manages, now holds a substantial position in Benitec Biopharma. The transactions were conducted under a securities purchase agreement involving both Averill Master Fund and Averill Madison Master Fund. Analyst sentiment appears bullish, with price targets ranging from $17 to $35 per share, according to InvestingPro data.
The purchases reflect a strategic move by Suvretta Capital, which is known for its focus on the life sciences sector. This investment increases their stake in the pharmaceutical company, which specializes in gene therapy treatments. InvestingPro analysis shows the company maintains a "Fair" overall financial health score, with particularly strong liquidity metrics. Get access to 8 more exclusive InvestingPro Tips and comprehensive analysis through the Pro Research Report.
In other recent news, Benitec Biopharma has entered a Registration Rights Agreement with Averill Master Fund, Ltd. and Averill Madison Master Fund, Ltd., following a registered direct offering. This agreement requires Benitec to file a registration statement for the resale of common stock shares within 60 days post-closing, enhancing the liquidity of its shares. Meanwhile, H.C. Wainwright has reaffirmed its Buy rating on Benitec’s stock, maintaining a $28.00 price target, citing progress in the Phase 1b/2a clinical trial for BB-301. The company is advancing with its investigational treatment for oculopharyngeal muscular dystrophy (OPMD), with plans to escalate the trial later this year.
Interim results from the trial have shown sustained improvements in swallowing function for subjects treated with BB-301, with no severe adverse events reported. JMP analysts have also maintained a Market Outperform rating with an $18.00 price target for Benitec, ahead of the company’s presentation at the Muscular Dystrophy Association Conference. The conference will feature extended follow-up results and interim data from the ongoing research. Benitec’s "silence and replace" strategy remains a focal point, with analysts expressing optimism about the company’s growth potential. Investors are keenly awaiting the conference outcomes, which could significantly influence Benitec’s trajectory.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.