GH Research (NASDAQ:GHRS) Trading Down 7.5% – Time to Sell?

GH Research PLC (NASDAQ:GHRS) was down 7.5% on Tuesday . The stock traded as low as $15.81 and last traded at $15.7240. Approximately 289,606 shares changed hands during trading, a decline of 71% from the average daily volume of 1,002,681 shares. The stock had previously closed at $16.99.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GHRS shares. Guggenheim reaffirmed a “buy” rating and set a $29.00 price target on shares of GH Research in a research report on Monday, January 5th. Cowen restated a “buy” rating on shares of GH Research in a research note on Monday, January 5th. Needham & Company LLC set a $29.00 target price on shares of GH Research in a research report on Tuesday, January 6th. Wall Street Zen downgraded shares of GH Research from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, HC Wainwright dropped their price target on shares of GH Research from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, GH Research has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

GH Research Trading Down 7.3%

The stock has a fifty day simple moving average of $14.26 and a two-hundred day simple moving average of $13.97. The firm has a market cap of $819.47 million, a PE ratio of -21.28 and a beta of 0.98.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.23). As a group, sell-side analysts predict that GH Research PLC will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. increased its holdings in shares of GH Research by 63.6% in the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after purchasing an additional 2,400 shares during the period. JPMorgan Chase & Co. bought a new position in GH Research in the 2nd quarter worth about $79,000. Virtus Investment Advisers LLC bought a new position in GH Research in the 2nd quarter worth about $89,000. BNP Paribas Financial Markets raised its holdings in shares of GH Research by 165.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock valued at $207,000 after acquiring an additional 10,600 shares in the last quarter. Finally, Palumbo Wealth Management LLC boosted its position in shares of GH Research by 68.2% during the 2nd quarter. Palumbo Wealth Management LLC now owns 21,651 shares of the company’s stock valued at $264,000 after acquiring an additional 8,782 shares during the last quarter. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

GH Research Company Profile

GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.

The firm’s lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.