Quantbot Technologies LP Purchases New Stake in Biohaven Ltd. (NYSE:BHVN)

Quantbot Technologies LP acquired a new stake in Biohaven Ltd. (NYSE:BHVN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,508 shares of the company's stock, valued at approximately $355,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asset Management L.P. increased its position in Biohaven by 745.9% in the third quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company's stock worth $74,969,000 after purchasing an additional 1,322,922 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Biohaven by 563.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company's stock worth $25,416,000 after buying an additional 431,954 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Biohaven by 85.4% during the third quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company's stock worth $40,448,000 after acquiring an additional 372,737 shares during the period. Janus Henderson Group PLC raised its stake in shares of Biohaven by 5.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company's stock valued at $311,142,000 after purchasing an additional 328,099 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Biohaven by 600.9% in the 3rd quarter. Wellington Management Group LLP now owns 243,167 shares of the company's stock valued at $12,151,000 after acquiring an additional 208,472 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

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Insider Transactions at Biohaven

In related news, Director John W. Childs acquired 32,700 shares of Biohaven stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $30.47 per share, with a total value of $996,369.00. Following the transaction, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. This represents a 1.43 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 16.00% of the company's stock.

Biohaven Price Performance

BHVN stock traded up $1.07 during midday trading on Wednesday, reaching $23.67. 1,122,390 shares of the stock were exchanged, compared to its average volume of 1,085,235. The company has a fifty day moving average price of $34.21 and a 200 day moving average price of $41.09. Biohaven Ltd. has a 52 week low of $21.47 and a 52 week high of $55.72. The stock has a market capitalization of $2.42 billion, a PE ratio of -2.53 and a beta of 1.27.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings data 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). As a group, analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. HC Wainwright reissued a "buy" rating and set a $54.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biohaven in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the stock a "buy" rating in a report on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $62.77.

About Biohaven

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.