GH Research (NASDAQ:GHRS) Shares Down 7.6% – Should You Sell?

GH Research PLC (NASDAQ:GHRS) dropped 7.6% during mid-day trading on Thursday . The company traded as low as $14.25 and last traded at $13.86. Approximately 198,904 shares changed hands during trading, a decline of 74% from the average daily volume of 775,802 shares. The stock had previously closed at $15.00.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Canaccord Genuity Group reduced their price objective on GH Research from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of GH Research in a report on Monday, January 27th.

GH Research Stock Up 2.7 %

The company’s fifty day moving average price is $9.03 and its two-hundred day moving average price is $9.05. The firm has a market cap of $722.18 million, a PE ratio of -17.57 and a beta of 0.93.

Institutional Investors Weigh In On GH Research

A hedge fund recently raised its stake in GH Research stock. RA Capital Management L.P. grew its holdings in GH Research PLC (NASDAQ:GHRS) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,686,689 shares of the company’s stock after buying an additional 85,000 shares during the quarter. RA Capital Management L.P. owned about 12.85% of GH Research worth $44,734,000 at the end of the most recent quarter. 56.90% of the stock is owned by institutional investors and hedge funds.

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).