Biohaven Ltd. (NYSE:BHVN) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lowered its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 68.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,445 shares of the company's stock after selling 18,344 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Biohaven were worth $315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SpiderRock Advisors LLC purchased a new position in Biohaven during the 3rd quarter valued at about $620,000. Citigroup Inc. grew its position in shares of Biohaven by 125.8% in the third quarter. Citigroup Inc. now owns 119,905 shares of the company's stock valued at $5,992,000 after purchasing an additional 66,801 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Biohaven by 85.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company's stock worth $40,448,000 after purchasing an additional 372,737 shares in the last quarter. XTX Topco Ltd lifted its stake in Biohaven by 278.5% in the 3rd quarter. XTX Topco Ltd now owns 32,510 shares of the company's stock valued at $1,625,000 after buying an additional 23,921 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 valued at $25,416,000 after buying an additional 431,954 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on BHVN shares. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price target on shares of Biohaven in a report on Tuesday. TD Cowen upped their target price on shares of Biohaven from $55.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Biohaven in a report on Tuesday, December 17th. JPMorgan Chase & Co. cut their price objective on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, HC Wainwright restated a "buy" rating and set a $54.00 target price on shares of Biohaven in a research report on Tuesday. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Biohaven has a consensus rating of "Buy" and an average price target of $62.77.

Insider Buying and Selling

In related news, Director John W. Childs purchased 32,700 shares of Biohaven stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $30.47 per share, with a total value of $996,369.00. Following the transaction, the director now 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 16.00% of the stock is owned by corporate insiders.

Biohaven Stock Performance

Shares of NYSE:BHVN traded down $0.39 during trading on Wednesday, reaching $30.98. 1,625,009 shares of the stock were exchanged, compared to its average volume of 960,867. The firm's 50-day moving average price is $38.07 and its 200 day moving average price is $42.66. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -3.31 and a beta of 1.27. Biohaven Ltd. has a 12-month low of $26.80 and a 12-month high of $62.21.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly 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). As a group, equities research analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current year.

Biohaven Company 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.