Cormorant Asset Management LP Has $16.51 Million Position in GH Research PLC $GHRS

Cormorant Asset Management LP trimmed its stake in GH Research PLC (NASDAQ:GHRS) by 32.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300,000 shares of the company’s stock after selling 616,439 shares during the quarter. GH Research accounts for 0.8% of Cormorant Asset Management LP’s portfolio, making the stock its 22nd largest position. Cormorant Asset Management LP owned about 2.50% of GH Research worth $16,510,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GHRS. Barclays PLC raised its holdings in shares of GH Research by 63.4% during the 4th quarter. Barclays PLC now owns 2,118 shares of the company’s stock valued at $27,000 after purchasing an additional 822 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of GH Research during the 4th quarter worth about $38,000. Osaic Holdings Inc. boosted its position 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 valued at $75,000 after acquiring an additional 2,400 shares during the period. JPMorgan Chase & Co. bought a new stake in GH Research in the 2nd quarter valued at $79,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of GH Research in the fourth quarter valued at about $128,000. 56.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GHRS has been the topic of a number of recent research reports. Needham & Company LLC lifted their price target on shares of GH Research from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Citizens Jmp lowered their target price on GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a research note on Friday, May 15th. Citigroup restated an “outperform” rating on shares of GH Research in a research report on Friday, May 15th. HC Wainwright cut their target price on shares of GH Research from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Cantor Fitzgerald raised their price target on GH Research from $25.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

GH Research Stock Up 8.6%

Shares of NASDAQ GHRS opened at $21.70 on Thursday. GH Research PLC has a twelve month low of $11.32 and a twelve month high of $25.94. The business’s 50 day moving average price is $20.56 and its two-hundred day moving average price is $16.84. The company has a market cap of $1.49 billion, a PE ratio of -23.59 and a beta of 1.31.

GH Research (NASDAQ:GHRS) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). As a group, research analysts anticipate that GH Research PLC will post -1.46 EPS for the current fiscal year.

About GH Research

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.