Biohaven Ltd – (BHVN, +1, November 1st)
We ranked this stock +N on October 7th based on purchases of $5 million from Vladimir Coric (CEO since 2022) at $10.31, and $2.5 million from John Childs (Director since 2022) at $8.98. This entity was spun-out of Pfizer in July 2022 after Pfizer purchased Biohaven Pharmaceutical Holdings in May 2022 for $12B. BHVN just completed a secondary offering on October 25th at $10.50 in which three directors, the CEO, and the Treasurer all participated, spending a total of $53.6 million.
Since that secondary, and as the stock has moved higher, Vladimir Coric has made two additional open market purchases, spending another $2.5 million at an average price of $15. It is interesting to see the broad participation on the secondary and these follow-up purchases in the open market from the CEO.
We are increasing the rank further, from +N to +1.