GH Research (NASDAQ:GHRS) Shares Down 4.6% – What’s Next?

GH Research PLC (NASDAQ:GHRS)’s stock price was down 4.6% on Tuesday . The company traded as low as $12.92 and last traded at $13.07. Approximately 65,298 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 184,651 shares. The stock had previously closed at $13.70.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GHRS. Cantor Fitzgerald began coverage on shares of GH Research in a research report on Wednesday, June 4th. They set an “overweight” rating and a $25.00 price target on the stock. Royal Bank of Canada assumed coverage on shares of GH Research in a report on Friday, March 7th. They set an “outperform” rating and a $31.00 target price on the stock. Guggenheim lowered their price target on shares of GH Research from $32.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Wall Street Zen downgraded GH Research from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, Stifel Nicolaus increased their target price on GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.

GH Research Stock Down 6.6%

The company has a market capitalization of $665.91 million, a PE ratio of -16.25 and a beta of 0.97. The stock’s fifty day moving average price is $10.45 and its two-hundred day moving average price is $10.29.

GH Research (NASDAQ:GHRS) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.42. On average, equities research analysts forecast that GH Research PLC will post -0.8 EPS for the current year.

Institutional Trading of GH Research

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. raised its holdings in GH Research by 3.9% in the 1st quarter. RA Capital Management L.P. now owns 6,944,648 shares of the company’s stock worth $76,599,000 after purchasing an additional 257,959 shares in the last quarter. Lynx1 Capital Management LP raised its stake in GH Research by 15.8% in the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock worth $34,013,000 after buying an additional 663,100 shares in the last quarter. Cormorant Asset Management LP lifted its holdings in GH Research by 238.8% in the first quarter. Cormorant Asset Management LP now owns 2,009,482 shares of the company’s stock worth $22,165,000 after buying an additional 1,416,439 shares during the period. Jefferies Financial Group Inc. bought a new stake in GH Research during the 1st quarter valued at approximately $8,272,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of GH Research during the 1st quarter worth approximately $5,018,000. Hedge funds and other institutional investors own 56.90% of the company’s stock.

GH Research Company Profile

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).