Biohaven Ltd. (NYSE:BHVN) Shares Sold by Tri Locum Partners LP

Tri Locum Partners LP trimmed its holdings in Biohaven Ltd. (NYSE:BHVN - Free Report) by 27.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,220 shares of the company's stock after selling 52,975 shares during the period. Biohaven accounts for about 1.1% of Tri Locum Partners LP's holdings, making the stock its 25th biggest holding. Tri Locum Partners LP owned 0.14% of Biohaven worth $5,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Spire Wealth Management purchased a new position in Biohaven in the 4th quarter worth approximately $56,000. Amalgamated Bank boosted its stake in Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock worth $109,000 after buying an additional 527 shares during the last quarter. US Bancorp DE grew its holdings in Biohaven by 36.7% in the 4th quarter. US Bancorp DE now owns 2,971 shares of the company's stock valued at $111,000 after buying an additional 798 shares in the last quarter. Elkhorn Partners Limited Partnership boosted its position in shares of Biohaven by 50.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 3,300 shares of the company's stock valued at $123,000 after acquiring an additional 1,100 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Biohaven by 50.1% in the fourth quarter. KBC Group NV now owns 3,377 shares of the company's stock valued at $126,000 after purchasing an additional 1,127 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Stock Performance

Shares of Biohaven stock traded up $1.24 during trading hours on Friday, reaching $23.69. 1,038,004 shares of the company were exchanged, compared to its average volume of 1,150,501. The firm has a market cap of $2.42 billion, a PE ratio of -2.54 and a beta of 1.33. Biohaven Ltd. has a 1 year low of $15.79 and a 1 year high of $55.70. The stock's fifty day moving average is $25.18 and its 200 day moving average is $36.77.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.29). Research analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Biohaven and gave the company a "buy" rating in a report on Thursday, March 20th. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. HC Wainwright restated a "buy" rating and issued a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. William Blair raised Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $62.54.

Insider Activity at Biohaven

In other Biohaven news, Director John W. Childs acquired 32,700 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired 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 in the company, valued at $70,707,798.37. The trade was a 1.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is owned by corporate insiders.

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.