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Trexquant Investment LP decreased its position in shares of Biohaven Ltd. (NYSE:BHVN – Free Report) by 41.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,980 shares of the company’s stock after selling 7,792 shares during the period. Trexquant Investment LP’s holdings in Biohaven were worth $410,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Spire Wealth Management acquired a new stake in shares of Biohaven in the 4th quarter valued at $56,000. Amalgamated Bank boosted its stake in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after buying an additional 527 shares in the last quarter. US Bancorp DE grew its position in Biohaven by 36.7% in the fourth quarter. US Bancorp DE now owns 2,971 shares of the company’s stock valued at $111,000 after acquiring an additional 798 shares during the last quarter. KBC Group NV raised its stake in Biohaven by 50.1% during the fourth quarter. KBC Group NV now owns 3,377 shares of the company’s stock worth $126,000 after acquiring an additional 1,127 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Biohaven by 16.6% in the fourth quarter. Diversified Trust Co now owns 5,585 shares of the company’s stock worth $209,000 after acquiring an additional 795 shares during the last quarter. 88.78% of the stock is owned by institutional investors.
Insider Activity
In related news, Director John W. Childs bought 32,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the transaction, the director now directly owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. The trade was a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.00% of the stock is owned by company insiders.
Biohaven Stock Performance
NYSE:BHVN opened at $17.55 on Friday. Biohaven Ltd. has a fifty-two week low of $15.79 and a fifty-two week high of $55.70. The company has a 50 day simple moving average of $30.45 and a two-hundred day simple moving average of $39.57. The company has a market capitalization of $1.79 billion, a PE ratio of -1.88 and a beta of 1.33.
Biohaven (NYSE:BHVN – Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). Research analysts predict that Biohaven Ltd. will post -8.9 EPS for the current year.
Analysts Set New Price Targets
Several brokerages recently issued reports on BHVN. HC Wainwright reaffirmed a “buy” rating and set a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a report on Tuesday, March 4th. JPMorgan Chase & Co. cut their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley lowered their target price on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $62.77.
Read Our Latest Report on Biohaven
Biohaven Profile
Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company’s pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer’s and Parkinson’s disease, sclerosis, and amyloid-related imaging abnormalities.
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