E Fund Management Co. Ltd. Sells 3,080 Shares of Biohaven Ltd. (NYSE:BHVN)

E Fund Management Co. Ltd. decreased its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 17.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,528 shares of the company’s stock after selling 3,080 shares during the period. E Fund Management Co. Ltd.’s holdings in Biohaven were worth $622,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BHVN. Thompson Davis & CO. Inc. bought a new position in Biohaven in the fourth quarter worth about $214,000. Private Advisor Group LLC purchased a new position in shares of Biohaven in the 4th quarter valued at approximately $231,000. Public Employees Retirement System of Ohio bought a new stake in shares of Biohaven during the third quarter valued at approximately $236,000. NJ State Employees Deferred Compensation Plan purchased a new stake in Biohaven in the third quarter worth $267,000. Finally, Constitution Capital LLC bought a new position in Biohaven in the fourth quarter worth $300,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Trading Down 1.7 %

Biohaven stock traded down $0.72 during mid-day trading on Wednesday, hitting $40.75. The stock had a trading volume of 760,352 shares, compared to its average volume of 1,224,898. The firm’s 50 day moving average is $49.77 and its 200 day moving average is $42.71. The firm has a market capitalization of $3.60 billion, a P/E ratio of -7.20 and a beta of 1.26. Biohaven Ltd. has a one year low of $13.46 and a one year high of $62.21.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.40). As a group, equities research analysts forecast that Biohaven Ltd. will post -5.79 earnings per share for the current year.

Analysts Set New Price Targets

BHVN has been the topic of several recent research reports. UBS Group upped their price target on Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. raised their price target on Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a research report on Tuesday, April 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Thursday, April 18th. Finally, TD Cowen lifted their target price on shares of Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Biohaven has a consensus rating of “Buy” and an average price target of $52.13.

Insider Buying and Selling

In other news, Director Gregory Bailey bought 25,503 shares of the stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average cost of $39.18 per share, for a total transaction of $999,207.54. Following the transaction, the director now owns 1,600,071 shares of the company’s stock, valued at $62,690,781.78. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Vlad Coric acquired 121,951 shares of the stock in a transaction dated Monday, April 22nd. The stock was acquired at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the purchase, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory Bailey bought 25,503 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were bought at an average cost of $39.18 per share, for a total transaction of $999,207.54. Following the transaction, the director now owns 1,600,071 shares in the company, valued at approximately $62,690,781.78. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 196,234 shares of company stock worth $7,999,179. Corporate insiders own 16.00% of the company’s stock.

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.