GH Research (NASDAQ:GHRS) Trading Down 1.7% – Should You Sell?

GH Research PLC (NASDAQ:GHRS)’s share price traded down 1.7% on Thursday . The company traded as low as $10.30 and last traded at $10.76. Approximately 24,391 shares traded hands during trading, a decline of 69% from the average daily volume of 79,513 shares. The stock had previously closed at $10.95.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of GH Research in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and set a $39.00 price objective on shares of GH Research in a report on Wednesday, September 4th. Finally, Canaccord Genuity Group dropped their target price on shares of GH Research from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Monday.

GH Research Stock Performance

The company has a market cap of $526.02 million, a P/E ratio of -13.62 and a beta of 0.74. The business has a 50 day moving average price of $7.87 and a two-hundred day moving average price of $10.33.

GH Research (NASDAQ:GHRS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. As a group, research analysts expect that GH Research PLC will post -0.78 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GH Research stock. RA Capital Management L.P. increased its stake in GH Research PLC (NASDAQ:GHRS) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 12.85% of GH Research worth $44,734,000 at the end of the most recent reporting period. 56.90% of the stock is owned by hedge funds and other institutional investors.

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).