Form 4: Suvretta Capital Management Reports Increased Stake in Benitec Biopharma Inc.

Suvretta Capital Management, along with related entities and individuals, reports acquiring additional shares of Benitec Biopharma Inc., increasing their beneficial ownership.

Summary

• Suvretta Capital Management, LLC, along with Averill Master Fund, Ltd., Averill Madison Master Fund, Ltd., and Aaron Cowen, filed a Form 4 indicating changes in beneficial ownership of Benitec Biopharma Inc. common stock.
• On March 31, 2025, Averill Master Fund purchased 9,503 shares at a weighted average price of $12.63 per share, increasing its holdings to 8,802,748 shares.
• Averill Madison Master Fund purchased 1,267 shares at a weighted average price of $12.63 per share, increasing its holdings to 1,068,031 shares.
• Averill Master Fund also purchased 5,057 shares at a weighted average price of $13.22 per share, bringing its total to 8,807,805 shares.
• Averill Madison Master Fund further acquired 670 shares at a weighted average price of $13.22 per share, resulting in a total of 1,068,701 shares.
• The reported transactions reflect open market purchases within price ranges of $12.00 to $13.00 and $13.01 to $13.46 per share.
• Suvretta Capital Management, as the investment manager of the Funds, and Mr. Cowen may be deemed to have beneficial ownership of the shares held by the Funds.
• Each of the Funds may be deemed a director by deputization by virtue of Kishan Mehta, a portfolio manager of Suvretta Capital, serving on the board of directors of the Issuer.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing indicating changes in ownership. The increased stake could be seen as a positive signal, but it's not definitive.

Positives

• Increased investment by Suvretta Capital Management may signal confidence in Benitec Biopharma Inc.'s future prospects.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by significant shareholders and insiders, providing transparency to the market.

Comparison to Industry Standards

• Similar filings are common among institutional investors like BlackRock, Vanguard, and State Street when they adjust their holdings in publicly traded companies.
• The reported transactions are typical of investment management firms adjusting their portfolios based on their investment strategies and market conditions.

Stakeholder Impact

• The increased stake by Suvretta Capital Management could positively influence shareholder confidence.

Key Dates

Keywords

Benitec Biopharma Inc., Suvretta Capital Management, Averill Master Fund, Averill Madison Master Fund, Aaron Cowen, beneficial ownership, Form 4, share purchase, investment