MYDA Advisors LLC Sells 16,000 Shares of Biohaven Ltd. (NYSE:BHVN)

MYDA Advisors LLC lowered its holdings in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 22.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 54,000 shares of the company's stock after selling 16,000 shares during the period. MYDA Advisors LLC owned about 0.05% of Biohaven worth $2,017,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Spire Wealth Management bought a new stake in shares of Biohaven in the 4th quarter valued at $56,000. Amalgamated Bank boosted its position in Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock valued at $109,000 after acquiring an additional 527 shares during the last quarter. US Bancorp DE boosted its position in Biohaven by 36.7% during 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. Elkhorn Partners Limited Partnership grew its holdings in Biohaven by 50.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 3,300 shares of the company's stock worth $123,000 after acquiring an additional 1,100 shares during the period. Finally, KBC Group NV raised its position in shares of Biohaven by 50.1% in the 4th 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. Institutional investors and hedge funds own 88.78% of the company's stock.

Insider Activity

In related news, Director John W. Childs purchased 32,700 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the purchase, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This trade represents a 1.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BHVN shares. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Biohaven and gave the stock a "buy" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. decreased their price target on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Royal Bank of Canada reissued an "outperform" rating and set a $61.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. HC Wainwright reaffirmed a "buy" rating and issued a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Finally, Morgan Stanley cut their price target on Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $62.77.

Biohaven Stock Up 1.2 %

BHVN stock traded up $0.25 during trading on Wednesday, reaching $21.40. The stock had a trading volume of 2,301,708 shares, compared to its average volume of 1,108,840. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -2.29 and a beta of 1.33. Biohaven Ltd. has a one year low of $15.79 and a one year high of $55.70. The company's 50 day moving average is $27.19 and its two-hundred day moving average is $38.04.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.29). As a group, research analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

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.