Trexquant Investment 13F: Cuts BMY Stake by $22M

Trexquant Cuts Bristol-Myers Squibb Position

Trexquant Investment reduced its holdings in Bristol-Myers Squibb Company (NYSE:BMY) by 378,433 shares during the period, according to a Form 13F filing with the Securities and Exchange Commission. The fund's cut amounted to a 46.9% decrease, leaving it with 428,302 shares. The remaining stake carried an estimated value of $24.7 million at the close of the reporting window.

Bristol-Myers Squibb Stock Performance and Market Context

Shares of Bristol-Myers Squibb traded near $57.62 as the broader healthcare sector navigated shifting market conditions. The drug maker operates with a market capitalization of roughly $123.7 billion and a price-to-earnings ratio of 13.3. Its forward P/E sits at 9.1, while the 50-day moving average rests near $63.59 and the 200-day moving average stands at $59.61. The 52-week trading range spans from a low of $42.52 to a high of $68.64.

Wall Street Analyst Adjustments and Ratings

Financial institutions have frequently adjusted their outlooks on the pharmaceutical company. On October 13, 2026, Wells Fargo maintained an Equal-Weight rating and lowered its price target to $60.00 from $65.00. Cantor Fitzgerald kept a Neutral rating on October 8, 2026, while lowering its target to $53.00 from $59.00. Morgan Stanley maintained an Underweight rating with a $41.00 target on October 7, 2026. Leerink Partners downgraded the stock to Market Perform with a $59.00 target on October 5, 2026. Earlier, Piper Sandler reiterated an Overweight rating with an $82.00 target on September 16, 2026, and HSBC maintained a Hold rating with a $65.00 target on September 10, 2026. Argus Research upgraded the stock to a Buy with a $75.00 target on August 5, 2026, and Citigroup maintained a Neutral rating while raising its target to $70.00 on August 3, 2026. Overall, the stock carries a consensus Buy recommendation and a mean price target of $65.63 across 24 analyst opinions.

Inside Bristol-Myers Squibb Operations

Bristol-Myers Squibb Company discovers, develops, and distributes biopharmaceutical products worldwide, focusing on oncology, immunology, and cardiovascular treatments. Institutional holdings such as Trexquant's reflect portfolio adjustments made as the company advances its drug pipeline. Because 13F reports look backward at past quarters, these filings show older positioning rather than live trading activity.

What to Watch Next for the Stock

Market participants will look toward the company's upcoming earnings release on October 29, 2026, for fresh financial details. Subsequent SEC filings from institutional investors will also clarify whether funds like Trexquant continue trimming shares or stabilize their healthcare allocations.