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

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

Analyst Upgrades and Downgrades

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

GH Research Price Performance

The firm has a market capitalization of $570.49 million, a price-to-earnings ratio of -14.05 and a beta of 0.94. The firm has a 50 day moving average price of $11.71 and a 200-day moving average price of $9.32.

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

Institutional Investors Weigh In On GH Research

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new stake in GH Research in the fourth quarter valued at $44,000. Two Sigma Investments LP acquired a new stake in shares of GH Research during the 4th quarter worth about $117,000. Millennium Management LLC purchased a new stake in GH Research during the fourth quarter worth approximately $145,000. AdvisorShares Investments LLC boosted its holdings in GH Research by 15.4% in the fourth 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. Finally, Northern Trust Corp increased its stake in GH Research by 26.8% in the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after purchasing an additional 8,641 shares during the last quarter. 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).