GH Research (NASDAQ:GHRS) Trading Down 1.7% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS) fell 1.7% during trading on Thursday . The stock traded as low as $10.30 and last traded at $10.76. 24,391 shares were traded during mid-day trading, a decline of 69% from the average session volume of 79,513 shares. The stock had previously closed at $10.95.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Monday. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of GH Research in a report on Wednesday. Finally, JMP Securities restated 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 Trading Down 7.7 %

The stock’s 50 day moving average is $7.87 and its 200 day moving average is $10.33. The firm has a market cap of $526.02 million, a price-to-earnings ratio of -13.62 and a beta of 0.74.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.03. On average, equities research analysts predict that GH Research PLC will post -0.78 EPS for the current year.

Institutional Trading of GH Research

An institutional investor recently raised its position in GH Research stock. RA Capital Management L.P. boosted its holdings in shares of GH Research PLC (NASDAQ:GHRS) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,686,689 shares of the company’s stock after buying an additional 85,000 shares during the period. RA Capital Management L.P. owned approximately 12.85% of GH Research worth $44,734,000 as of its most recent SEC filing. Institutional investors and hedge funds 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).