AXQ Capital LP Boosts Stake in Biohaven Ltd. $BHVN

AXQ Capital LP grew its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 59.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,602 shares of the company’s stock after buying an additional 6,587 shares during the period. AXQ Capital LP’s holdings in Biohaven were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of Biohaven by 53.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company’s stock valued at $43,000 after acquiring an additional 623 shares during the last quarter. RWA Wealth Partners LLC lifted its holdings in Biohaven by 7.0% in the 1st quarter. RWA Wealth Partners LLC now owns 12,622 shares of the company’s stock valued at $303,000 after purchasing an additional 822 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Biohaven during the 1st quarter worth about $25,000. Advisors Asset Management Inc. grew its holdings in shares of Biohaven by 5.7% during the first quarter. Advisors Asset Management Inc. now owns 23,905 shares of the company’s stock worth $575,000 after buying an additional 1,290 shares in the last quarter. Finally, E Fund Management Co. Ltd. raised its position in shares of Biohaven by 16.4% in the first quarter. E Fund Management Co. Ltd. now owns 11,185 shares of the company’s stock valued at $269,000 after buying an additional 1,572 shares during the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Biohaven

In related news, CEO Vlad Coric bought 666,666 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $7.50 per share, for a total transaction of $4,999,995.00. Following the acquisition, the chief executive officer owned 1,195,275 shares in the company, valued at $8,964,562.50. This represents a 126.12% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO George C. Clark purchased 17,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was bought at an average price of $8.52 per share, with a total value of $144,840.00. Following the acquisition, the chief accounting officer owned 20,000 shares in the company, valued at $170,400. This trade represents a 566.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 4,416,999 shares of company stock worth $33,144,833. Insiders own 14.60% of the company’s stock.

Biohaven Stock Performance

Biohaven stock opened at $9.69 on Tuesday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -1.28 and a beta of 1.10. Biohaven Ltd. has a 12 month low of $7.48 and a 12 month high of $47.75. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.86 and a quick ratio of 2.86. The stock’s 50-day moving average is $13.79 and its 200-day moving average is $14.64.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, November 10th. The company reported ($1.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.27. Equities analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on BHVN shares. Royal Bank Of Canada decreased their target price on shares of Biohaven from $19.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 6th. Bank of America cut Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Wednesday, November 5th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $9.00 target price (down from $34.00) on shares of Biohaven in a research note on Thursday, November 6th. Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, November 5th. Finally, Leerink Partners dropped their price objective on shares of Biohaven from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Biohaven presently has an average rating of “Moderate Buy” and a consensus price target of $28.36.

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.