Allspring Global Investments Holdings LLC Boosts Stock Holdings in Biohaven Ltd. (NYSE:BHVN)

Allspring Global Investments Holdings LLC grew its position in shares of Biohaven Ltd. (NYSE:BHVN) by 165.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,788 shares of the company’s stock after buying an additional 7,345 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Biohaven were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Armistice Capital LLC lifted its position in Biohaven by 14.7% during the first quarter. Armistice Capital LLC now owns 3,124,000 shares of the company’s stock valued at $42,674,000 after purchasing an additional 400,000 shares during the period. Harbor Capital Advisors Inc. bought a new position in Biohaven during the second quarter valued at approximately $579,000. Compass Financial Advisors LLC bought a new position in Biohaven during the first quarter valued at approximately $239,000. Harvest Management LLC lifted its position in Biohaven by 20.1% during the second quarter. Harvest Management LLC now owns 16,100 shares of the company’s stock valued at $385,000 after purchasing an additional 2,700 shares during the period. Finally, NewEdge Wealth LLC bought a new position in Biohaven during the first quarter valued at approximately $3,326,000. Hedge funds and other institutional investors own 89.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered their price objective on shares of Biohaven from $27.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $26.20.

Insiders Place Their Bets

In other Biohaven news, CFO Matthew Buten purchased 22,727 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $499,994.00. Following the completion of the transaction, the chief financial officer now owns 189,380 shares of the company’s stock, valued at $4,166,360. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Matthew Buten acquired 22,727 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were purchased at an average cost of $22.00 per share, for a total transaction of $499,994.00. Following the transaction, the chief financial officer now directly owns 189,380 shares of the company’s stock, valued at $4,166,360. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Vlad Coric acquired 113,637 shares of the firm’s stock in a transaction dated Thursday, October 5th. The shares were purchased at an average price of $22.00 per share, for a total transaction of $2,500,014.00. Following the completion of the transaction, the chief executive officer now directly owns 1,657,031 shares in the company, valued at $36,454,682. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 204,181 shares of company stock worth $4,324,138. Company insiders own 12.40% of the company’s stock.

Biohaven Trading Up 3.5 %

BHVN opened at $28.60 on Friday. Biohaven Ltd. has a 1-year low of $12.35 and a 1-year high of $31.21. The company has a market capitalization of $1.95 billion, a PE ratio of -3.85 and a beta of 0.97. The firm’s 50 day simple moving average is $24.01 and its two-hundred day simple moving average is $21.36.

Biohaven Profile

Biohaven Ltd., a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing therapies for patients with debilitating neurological and neuropsychiatric diseases in the United States. The company's pipeline products include BHV-7000, a potassium channel activator for the treatment of focal epilepsy; BHV-7010, a Kv7 channel modulator for the treatment of different neurological diseases; Troriluzole, a tripeptide prodrug that is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500, a low-trapping glutamate N-methyl-D-aspartate receptor antagonist for neuropathic pain; and Verdiperstat, an oral myeloperoxidase inhibitor, which is in Phase 3 clinical trial for the treatment of neurodegenerative diseases.