GH Research (NASDAQ:GHRS) Stock Price Down 3.5% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS)’s stock price was down 3.5% during mid-day trading on Monday . The stock traded as low as $10.50 and last traded at $10.62. Approximately 120,349 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 164,209 shares. The stock had previously closed at $11.00.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GHRS shares. Royal Bank of Canada started coverage on GH Research in a research report on Friday, March 7th. They issued an “outperform” rating and a $31.00 target price for the company. Stifel Nicolaus increased their target price on GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Cantor Fitzgerald started coverage on GH Research in a research note on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price target on the stock. Guggenheim started coverage on GH Research in a research note on Thursday, March 13th. They issued a “buy” rating and a $32.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of GH Research in a research note on Monday, January 27th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $30.86.

GH Research Stock Performance

The firm has a market cap of $558.05 million, a P/E ratio of -13.58 and a beta of 0.94. The stock has a fifty day simple moving average of $11.19 and a 200 day simple moving average of $9.16.

GH Research (NASDAQ:GHRS) last posted its earnings results on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. Research analysts predict that GH Research PLC will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On GH Research

Several hedge funds and other institutional investors have recently bought and sold shares of GHRS. RA Capital Management L.P. lifted its stake in GH Research by 1.3% during the 3rd quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock valued at $44,734,000 after acquiring an additional 85,000 shares during the period. Geode Capital Management LLC lifted its stake in GH Research by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 72,513 shares of the company’s stock valued at $508,000 after acquiring an additional 3,092 shares during the period. Diadema Partners LP bought a new position in GH Research during the 4th quarter valued at about $711,000. Lynx1 Capital Management LP lifted its stake in GH Research by 15.8% during the 4th quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock valued at $34,013,000 after acquiring an additional 663,100 shares during the period. Finally, Northern Trust Corp lifted its stake in GH Research by 26.8% during the 4th quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after acquiring an additional 8,641 shares during the period. Institutional investors own 56.90% of the company’s stock.

About GH Research

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).