Biohaven Ltd (BHVN US, +1, 03-Oct-24)

On October 2nd, as part of a $287 million offering, John Childs (Director since 2022) and Vladimir Coric (Chair and CEO since 2022) each purchased $1 million worth of stock at $47.50. They own approximately 7% and 4%, respectively, of the company. 

On September 24th Gregory Bailey (Director since 2022) purchased $221,000 at $44.19. He last bought in May at $34 and also has been a steady buyer. We ranked this stock +1 on April 25th based on purchases from Bailey, Childs, and Coric on an April stock offering at $41 as well as in the open market after the offering. 

All three directors have been with the former parent since 2014 and have a long history with the company. It is interesting to see them continue to make large purchases, as the stock moves higher, despite already substantial ownership in the company. 

We are renewing our +1 rank (strongly positive).