GH Research (NASDAQ:GHRS) Trading Down 0.8% – What’s Next?

Shares of GH Research PLC (NASDAQ:GHRS) dropped 0.8% during trading on Wednesday . The stock traded as low as $8.97 and last traded at $9.03. Approximately 17,495 shares traded hands during trading, a decline of 78% from the average daily volume of 79,145 shares. The stock had previously closed at $9.10.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GHRS. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of GH Research in a research note on Wednesday, November 20th. Canaccord Genuity Group dropped their price target 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $39.00 target price on shares of GH Research in a report on Wednesday, September 4th.

GH Research Price Performance

The firm has a market capitalization of $464.11 million, a price-to-earnings ratio of -11.43 and a beta of 0.74. The business’s 50-day moving average price is $7.93 and its 200 day moving average price is $10.27.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. As a group, sell-side analysts expect that GH Research PLC will post -0.79 earnings per share for the current year.

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 position in GH Research PLC (NASDAQ:GHRS) by 11.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,251,714 shares of the company’s stock after purchasing an additional 664,381 shares during the period. RA Capital Management L.P. owned approximately 12.02% of GH Research worth $66,643,000 as of its most recent SEC filing. Hedge funds and other 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).