Rhumbline Advisers Has $4.39 Million Stock Position in Biohaven Ltd. (NYSE:BHVN)

Rhumbline Advisers lifted its stake in Biohaven Ltd. (NYSE:BHVN) by 14.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,595 shares of the company’s stock after purchasing an additional 14,407 shares during the quarter. Rhumbline Advisers’ holdings in Biohaven were worth $4,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. SpiderRock Advisors LLC bought a new position in Biohaven during the third quarter valued at approximately $620,000. Citigroup Inc. grew its stake in shares of Biohaven by 125.8% in the third quarter. Citigroup Inc. now owns 119,905 shares of the company’s stock worth $5,992,000 after acquiring an additional 66,801 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Biohaven during the third quarter worth $1,339,000. JPMorgan Chase & Co. boosted its stake in 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 buying an additional 372,737 shares in the last quarter. Finally, XTX Topco Ltd boosted its stake in Biohaven by 278.5% during the third quarter. XTX Topco Ltd now owns 32,510 shares of the company’s stock worth $1,625,000 after buying an additional 23,921 shares in the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John W. Childs acquired 29,000 shares of Biohaven stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the transaction, the director now owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 16.00% of the company’s stock.

Biohaven Stock Performance

NYSE:BHVN opened at $37.09 on Friday. Biohaven Ltd. has a 52-week low of $26.80 and a 52-week high of $62.21. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -3.97 and a beta of 1.28. The business’s fifty day moving average is $38.23 and its 200 day moving average is $42.71.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen lifted their price objective on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $59.00 price objective on shares of Biohaven in a report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price (up from $58.00) on shares of Biohaven in a research report on Wednesday, December 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Biohaven in a research report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price objective for the company. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $63.15.

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.