I totally agree with you on this! At the same time, read below ( dated 5 December 2019):
Sabby Management LLC acquired a new stake in shares of BENITEC BIOPHAR/S (NASDAQ:BNTC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,365,615 shares of the biotechnology. BENITEC BIOPHAR/S makes up 0.5% of Sabby Management LLC’s investment portfolio, making the stock its 11th largest holding. Sabby Management LLC owned approximately 106.69% of BENITEC BIOPHAR/S at the end of the most recent reporting period.https://techknowbits.com/2019/12/05/sabby-management-llc-makes-new-investment-in-benitec-biophar-s-nasdaqbntc-updated.html
I ask you why big and experienced managers like Sabby Managment becomes one of the major shareholders of (NASDAQ:BNTC, ASX: BLT) and if you look at top 20% of BLT shareholders, they control 65% of the company.
This means, there would be something you and I ( ordinary investors) don't know. If BLT is so bad, why Big managers and investors (LLC) which have over USD 2 billion NASDAQ listed companies portfolios, still holds large BLT shares?
So, I think there may be some bio-break though is in the pipeline that is keeping big shareholders attracted to BLT and making them buy more shares of BLT.
In my view, BLT could be 1 billion USD company should it attains break through in ddRNAi-based gene therapy for the treatment of oculopharyngeal muscular dystrophy; BB-201
BLT shares would jump to 25 c and more as there are not many left with ordinary shareholders.
