Menu Close

ClearBridge Investments Trimmed its Position in Biohaven Pharmaceutical (BHVN)

view original post

ClearBridge Investments, an investment management company published its “ClearBridge Small Cap Growth Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund declined and underperformed the Russell 2000 growth benchmark. The letter states that the higher interest rate and current economic events influenced the performance of the fund.  You can check the top 5 holdings of the fund to know its best picks in 2022.

In the letter, ClearBridge Investments mentioned that the fund underperformed in the second quarter due to market volatility. It discussed stocks like Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN). It is a biopharmaceutical company headquartered in New Haven, Connecticut, and has a market capitalization of $10.373 billion. The stock of Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) closed at $146.01 per share on August 1, 2022. Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) returned 0.01% in one month and its 12-month return jumped to 22.92%.

Here is what ClearBridge Investments specifically mentioned about Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN):

“Additionally, we trimmed our position in Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN), which accepted a takeover offer from large cap pharmaceutical maker Pfizer (PFE).”

create jobs 51/Shutterstock.com

Our research shows that Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database 41 hedge fund portfolios held Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) at the end of the first quarter which was up from 31 in the previous quarter.

We discussed Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) in another article in May that covered top trending stocks. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.