Cormorant Asset Management LP Sells 616,439 Shares of GH Research PLC $GHRS

Cormorant Asset Management LP reduced its stake in GH Research PLC (NASDAQ:GHRS) by 32.2% in the 4th quarter, HoldingsChannel reports. The firm owned 1,300,000 shares of the company’s stock after selling 616,439 shares during the quarter. GH Research makes up 0.8% of Cormorant Asset Management LP’s portfolio, making the stock its 22nd biggest position. Cormorant Asset Management LP’s holdings in GH Research were worth $16,510,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Lynx1 Capital Management LP lifted its holdings in shares of GH Research by 27.5% in the third quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock valued at $122,997,000 after purchasing an additional 1,854,238 shares in the last quarter. Avoro Capital Advisors LLC bought a new stake in shares of GH Research in the 4th quarter worth approximately $22,860,000. Millennium Management LLC raised its stake in shares of GH Research by 324.1% in the third quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock valued at $12,350,000 after buying an additional 659,957 shares during the period. Jefferies Financial Group Inc. raised its stake in GH Research by 0.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 712,300 shares of the company’s stock valued at $9,046,000 after acquiring an additional 2,988 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of GH Research by 3.2% in the third quarter. Verition Fund Management LLC now owns 678,489 shares of the company’s stock valued at $9,702,000 after purchasing an additional 21,108 shares during the period. 56.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on GHRS. Citizens Jmp cut their price objective on shares of GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a research report on Friday, May 15th. Needham & Company LLC raised their price objective on GH Research from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 6th. Guggenheim set a $34.00 price target on shares of GH Research and gave the company a “buy” rating in a research report on Tuesday, March 10th. HC Wainwright cut their target price on shares of GH Research from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Finally, Cantor Fitzgerald boosted their price target on GH Research from $25.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

GH Research Stock Up 8.6%

Shares of NASDAQ GHRS opened at $21.70 on Thursday. GH Research PLC has a 52-week low of $11.32 and a 52-week high of $25.94. The company has a market cap of $1.49 billion, a PE ratio of -23.59 and a beta of 1.31. The firm’s 50-day moving average price is $20.56 and its 200-day moving average price is $16.84.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.04). As a group, equities research analysts anticipate that GH Research PLC will post -1.46 EPS for the current fiscal year.

GH Research Company Profile

GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.

The firm’s lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.