GH Research (NASDAQ:GHRS) Hits New 1-Year High – Here’s What Happened

GH Research PLC (NASDAQ:GHRS)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $20.50 and last traded at $19.12, with a volume of 4225029 shares changing hands. The stock had previously closed at $10.60.

Wall Street Analysts Forecast Growth

Several research firms have commented on GHRS. Canaccord Genuity Group decreased 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, November 18th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of GH Research in a research report on Monday, January 27th.

GH Research Price Performance

The business’s 50 day moving average is $8.73 and its 200 day moving average is $8.96.

Institutional Investors Weigh In On GH Research

A hedge fund recently raised its stake 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 disclosure with the SEC. The institutional investor owned 6,686,689 shares of the company’s stock after acquiring an additional 85,000 shares during the quarter. RA Capital Management L.P. owned approximately 12.85% of GH Research worth $44,734,000 at the end of the most recent reporting period. 56.90% of the stock is currently owned by 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).