GH Research (NASDAQ:GHRS) Stock Price Down 7.4% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS)’s share price traded down 7.4% during mid-day trading on Friday . The stock traded as low as $11.34 and last traded at $11.34. 24,727 shares traded hands during trading, a decline of 95% from the average session volume of 511,182 shares. The stock had previously closed at $12.25.

Analyst Ratings Changes

Several equities research analysts have recently commented on GHRS shares. Guggenheim initiated coverage on shares of GH Research in a report on Thursday, March 13th. They issued a “buy” rating and a $32.00 price target for the company. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of GH Research in a report on Monday, January 27th. Royal Bank of Canada started coverage on GH Research in a report on Friday, March 7th. They issued an “outperform” rating and a $31.00 price target on the stock. Cantor Fitzgerald initiated coverage on GH Research in a research note on Thursday, February 13th. They set an “overweight” rating and a $14.00 price objective for the company. Finally, Stifel Nicolaus lifted their target price on GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, GH Research presently has a consensus rating of “Buy” and an average target price of $30.86.

GH Research Stock Performance

The company has a market capitalization of $570.49 million, a price-to-earnings ratio of -14.05 and a beta of 0.94. The business’s 50 day moving average is $11.71 and its 200 day moving average is $9.32.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.06. Sell-side analysts predict that GH Research PLC will post -0.8 EPS for the current year.

Institutional Investors Weigh In On GH Research

Several hedge funds have recently added to or reduced their stakes in GHRS. Woodline Partners LP lifted its holdings in GH Research by 112.0% in the fourth quarter. Woodline Partners LP now owns 78,949 shares of the company’s stock valued at $553,000 after acquiring an additional 41,711 shares during the period. Two Sigma Investments LP acquired a new stake in shares of GH Research in the fourth quarter valued at about $117,000. Millennium Management LLC acquired a new position in shares of GH Research during the 4th quarter worth about $145,000. BNP Paribas Financial Markets acquired a new position in shares of GH Research during the fourth quarter valued at approximately $44,000. Finally, AdvisorShares Investments LLC lifted its holdings in GH Research by 15.4% in the 4th quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company’s stock valued at $252,000 after purchasing an additional 4,806 shares in the last quarter. 56.90% of the stock is owned by hedge funds and other institutional investors.

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).