Form 4: Suvretta Capital and Affiliates Increase Stake in Benitec Biopharma Through Open Market Purchases

Suvretta Capital Management and its affiliated funds have increased their holdings in Benitec Biopharma through a series of open market purchases of common stock.

Summary

• Suvretta Capital Management, along with Averill Master Fund, Averill Madison Master Fund, and Aaron Cowen, collectively referred to as the Reporting Persons, have filed a Form 4 detailing their recent transactions in Benitec Biopharma Inc. common stock.
• The transactions involved the purchase of Benitec Biopharma common stock in multiple open market transactions.
• On November 19, 2024, Averill Master Fund purchased 12,430 shares at a weighted average price of $9.73, and Averill Madison Master Fund purchased 1,570 shares at the same weighted average price.
• On November 20, 2024, Averill Master Fund purchased 24,360 shares at a weighted average price of $10.22, and Averill Madison Master Fund purchased 3,076 shares at the same weighted average price.
• The purchases were made at varying prices within ranges, with Averill Master Fund's purchases on November 19 ranging from $9.29 to $10.04 and on November 20 ranging from $10.19 to $10.50.
• Similarly, Averill Madison Master Fund's purchases on November 19 ranged from $9.29 to $10.04 and on November 20 ranged from $10.19 to $10.50.
• Following these transactions, the Reporting Persons' total indirect beneficial ownership of Benitec Biopharma common stock is 7,920,175 shares for Averill Master Fund and 950,314 shares for Averill Madison Master Fund.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the increased stake by Suvretta Capital and its affiliates suggests confidence in the company, but the document is a standard filing and does not contain any specific information about the company's performance or future outlook.

Positives

• The increased stake by Suvretta Capital and its affiliates indicates confidence in Benitec Biopharma.
• The open market purchases suggest a belief in the company's future prospects.
• The purchases were made at increasing prices, suggesting a positive outlook on the company's value.

Risks

• The Form 4 filing does not provide any information about the company's operational performance or future outlook.
• The purchases were made at varying prices, which could indicate uncertainty in the market's valuation of the company.

Industry Context

This filing reflects the ongoing investment activity in the biotechnology sector, where institutional investors often adjust their positions based on their assessment of a company's potential.

Comparison to Industry Standards

• Form 4 filings are a standard practice for reporting changes in beneficial ownership by insiders and major shareholders in publicly traded companies.
• The reported transactions are typical for institutional investors adjusting their positions in response to market conditions and company-specific developments.
• The level of detail provided in the filing is consistent with SEC requirements for Form 4 disclosures.

Stakeholder Impact

• The increased stake by Suvretta Capital and its affiliates could be viewed positively by shareholders, potentially increasing confidence in the company.
• The transactions may have a minor impact on the stock price in the short term.

Key Dates

Keywords

Benitec Biopharma, Suvretta Capital Management, Averill Master Fund, Averill Madison Master Fund, Aaron Cowen, Form 4, Beneficial Ownership, Open Market Purchases, Stock Transactions