Insider Activity Report: Biohaven (BHVN)

Matthew Buten, CFO at Biohaven (BHVN) recently bought 22,727 shares. The buy came to a total purchase price just under $500,000. The buy came a day after a company director bought 17,817 shares, paying just over $402,000.

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  • All told, company insiders have bought about 150,000 shares so far this year, with no insider sales. Last year also saw no sales as well, in addition to some large buys of over 500,000 shares from the company CEO.

    Overall, insiders own 14.5 percent of Biohaven shares.

    Shares have rallied nearly 90 percent over the past year, as the early-stage biotech company has made strong progress on treatments for various diseases such as epilepsy.

    As a research-oriented healthcare company, Biohaven is losing money right now, having shed nearly $400 million over the past year.

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  • However, the company has over $335 million in cash, and further positive developments should enable the company to continue operations over the next few years.

    Action to take: Investors may like shares as a speculation. If Biohaven has a breakout product, the company will likely get bought out, given its $1 billion market cap.

    As an early-stage company, investors should look to buy in small increments on down days for shares.

    For traders, shares have been trending higher and are near 52-week highs. That trend is likely to continue. The December $25 calls, last going for about $3.00, could see high-double-digit gains in the coming months.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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