GH Research (NASDAQ:GHRS) Shares Down 3.1%

GH Research PLC (NASDAQ:GHRS)’s stock price traded down 3.1% during mid-day trading on Wednesday . The company traded as low as $10.54 and last traded at $10.65. 11,876 shares traded hands during trading, a decline of 91% from the average session volume of 134,902 shares. The stock had previously closed at $10.99.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JMP Securities decreased their price objective on GH Research from $50.00 to $39.00 and set a “market outperform” rating on the stock in a research note on Friday, March 1st. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of GH Research in a research note on Monday, March 4th.

GH Research Stock Performance

The firm has a market capitalization of $572.85 million, a P/E ratio of -16.16 and a beta of 0.84. The business has a 50 day simple moving average of $9.54 and a two-hundred day simple moving average of $7.79.

GH Research (NASDAQ:GHRS) last announced its earnings results on Thursday, February 29th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). On average, equities analysts anticipate that GH Research PLC will post -0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

A number of hedge funds and other institutional investors have recently modified their holdings of GHRS. Bank of America Corp DE boosted its holdings in shares of GH Research by 13,760.0% in the 4th quarter. Bank of America Corp DE now owns 2,772 shares of the company’s stock worth $27,000 after purchasing an additional 2,752 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of GH Research by 246.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 4,075 shares of the company’s stock worth $33,000 after purchasing an additional 2,898 shares in the last quarter. Northern Trust Corp purchased a new position in shares of GH Research in the 4th quarter worth about $59,000. Renaissance Technologies LLC purchased a new position in shares of GH Research in the 1st quarter worth about $86,000. Finally, State Street Corp purchased a new position in shares of GH Research in the 3rd quarter worth about $127,000. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

About GH Research

GH Research PLC, a clinical-stage biopharmaceutical company, engages in developing various therapies to treat psychiatric and neurological disorders. The company develops 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD). Its lead program is GH001, an inhalable mebufotenin product candidate that has completed two Phase 1 clinical trials and Phase 1/2 clinical trial in patients with TRD.