BNTC Stock Price: Benitec Biopharma Inc nearly triples on Morgan Stanley investment
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CLAIM OFFER- NASDAQ: BNTC has nearly tripled in value on Tuesday, soaring 190%.
- Benitec Biopharma Inc. is benefiting from the significant investment from Morgan Stanley.
- MS may help close deals, encourage additional investors and
Sometimes it takes only one piece of paper to start a fire – in this case, a document filed to the SEC has sparked a surge of 190% in one day. Benitec Biopharma Inc (NASDAQ: BNTC) has nearly tripled after a filing showed that Morgan Stanley (NYSE: MS), scooped up 249,174 shares. That gives the investment back a 5.2% stake, which may have significant implications.
Stay up to speed with hot stocks' news!
First, the investment has already pushed BNTC shares higher. Secondly, when Morgan Stanley – a household name – puts its funds somewhere, other investors listen. The news triggered immense buying. Apart from the tripling, the volume has also rocketed higher, with dozens of millions of shares on the move, in comparison to a meager daily average of 385,000.
Thirdly, MS is unlikely to be a passive investor taking a stake at the firm, but rather an active player in the Australian firm's future. Benitec will likely harness the investment bank's contacts to reach out to additional funds and more importantly, to develop and selling of its products.
Benitec is based in Australia and has been in business for around 20 years, but has only gone public before the COVID-19 pandemic. While it does produce any vaccines or products related to the disease gripping the world, it uses a technology that has come into prominence – RNA. Immunizations by Moderna and Pfizer/BioNTech have been successful with Messenger RNA, raising interest in genomics.
Morgan Stanley's money may help to develop and market treatments for Hepatitis B and Oculopharyngeal Muscular Dystrophy (OPMD).
BNTC Stock Earnings
NASDAQ: BNTC has woken up from its hibernation around $3 and has hit a closing high of $9.26. However, it still has room before hitting the 52-week high of $17.39, which is an upside target for the bulls.
However, after the recent increase, some may opt to take profits on Benitec Biopharma's shares. Wednesday's premarket data is pointing to a slide of over 21% to $7.30.
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Errors and omissions excepted.
- NASDAQ: BNTC has nearly tripled in value on Tuesday, soaring 190%.
- Benitec Biopharma Inc. is benefiting from the significant investment from Morgan Stanley.
- MS may help close deals, encourage additional investors and
Sometimes it takes only one piece of paper to start a fire – in this case, a document filed to the SEC has sparked a surge of 190% in one day. Benitec Biopharma Inc (NASDAQ: BNTC) has nearly tripled after a filing showed that Morgan Stanley (NYSE: MS), scooped up 249,174 shares. That gives the investment back a 5.2% stake, which may have significant implications.
Stay up to speed with hot stocks' news!
First, the investment has already pushed BNTC shares higher. Secondly, when Morgan Stanley – a household name – puts its funds somewhere, other investors listen. The news triggered immense buying. Apart from the tripling, the volume has also rocketed higher, with dozens of millions of shares on the move, in comparison to a meager daily average of 385,000.
Thirdly, MS is unlikely to be a passive investor taking a stake at the firm, but rather an active player in the Australian firm's future. Benitec will likely harness the investment bank's contacts to reach out to additional funds and more importantly, to develop and selling of its products.
Benitec is based in Australia and has been in business for around 20 years, but has only gone public before the COVID-19 pandemic. While it does produce any vaccines or products related to the disease gripping the world, it uses a technology that has come into prominence – RNA. Immunizations by Moderna and Pfizer/BioNTech have been successful with Messenger RNA, raising interest in genomics.
Morgan Stanley's money may help to develop and market treatments for Hepatitis B and Oculopharyngeal Muscular Dystrophy (OPMD).
BNTC Stock Earnings
NASDAQ: BNTC has woken up from its hibernation around $3 and has hit a closing high of $9.26. However, it still has room before hitting the 52-week high of $17.39, which is an upside target for the bulls.
However, after the recent increase, some may opt to take profits on Benitec Biopharma's shares. Wednesday's premarket data is pointing to a slide of over 21% to $7.30.
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Errors and omissions excepted.
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