The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Biohaven Ltd shares valued at $459,662 were sold by Antonijevic Irina on Dec 29 ’23. At $41.79 per share, Antonijevic Irina sold 11,000 shares. The insider’s holdings dropped to 2,535 shares worth approximately $0.13 million following the completion of this transaction.
Also, CHILDS JOHN W purchased 454,545 shares, netting a total of over 9,999,990 in proceeds. Following the buying of shares at $22.00 each, the insider now holds 3,998,952 shares.
Before that, Coric Vlad had added 340,908 shares to its account. In a trade valued at $7,499,976, the Chief Executive Officer bought Biohaven Ltd shares for $22.00 each. Upon closing the transaction, the insider’s holdings increased to 340,908 shares, worth approximately $42.54 million.
As published in their initiating research note from RBC Capital Mkts on February 16, 2024, Biohaven Ltd [BHVN] has been an Outperform and the price target has been revised to $62. Analysts at UBS started covering the stock with ‘”a Buy”‘ outlook in a report released in early February. As of December 22, 2023, H.C. Wainwright has initiated its “Buy” rating for BHVN. Earlier on December 08, 2023, Robert W. Baird initiated its rating. Their recommendation was “an Outperform” for BHVN stock.
Analyzing BHVN Stock Performance
During the last five days, there has been a drop of approximately -2.33%. Over the course of the year, Biohaven Ltd shares have jumped approximately 19.30%. Shares of the company reached a 52-week high of $62.21 on 03/08/24 and a 52-week low of $39.84 on 01/03/24. A 50-day SMA is recorded $51.65, while a 200-day SMA reached $34.11. Nevertheless, trading volume fell to 0.72 million shares from 0.83 million shares the previous day.
Support And Resistance Levels for Biohaven Ltd (BHVN)
According to the 24-hour chart, there is a support level at 50.02, which, if violated, would cause prices to drop to 48.98. In the upper region, resistance lies at 51.85. The next price resistance is at 52.64. RSI (Relative Strength Index) is 43.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.04, which suggests the price will decrease in the coming days. Percent R is at 87.93%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Biohaven Ltd subject to short interest?
Stocks of Biohaven Ltd saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.84 million shares to 8.57 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 7.73 million shares. A jump of 9.8% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.16 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.16.
