GH Research (NASDAQ:GHRS) Shares Down 7% – Time to Sell?

GH Research PLC (NASDAQ:GHRS) traded down 7% on Thursday. The company traded as low as $23.43 and last traded at $24.15. Approximately 195,480 shares were traded during mid-day trading, a decline of 34% from the average session volume of 294,384 shares. The stock had previously closed at $25.96.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company initiated coverage on shares of GH Research in a report on Monday, July 27th. They set an “overweight” rating and a $44.00 price target for the company. Needham & Company LLC upped their price objective on shares of GH Research from $32.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. New Street Research set a $65.00 price target on shares of GH Research in a research note on Monday, August 10th. Cantor Fitzgerald increased their target price on GH Research from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Guggenheim boosted their target price on GH Research from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, GH Research currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

GH Research Trading Down 2.5%

The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -23.84 and a beta of 1.27. The stock has a 50-day simple moving average of $28.19 and a 200-day simple moving average of $23.20.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. On average, research analysts forecast that GH Research PLC will post -1.2 EPS for the current year.

Hedge Funds Weigh In On GH Research

A number of hedge funds have recently bought and sold shares of GHRS. Avoro Capital Advisors LLC acquired a new stake in GH Research during the fourth quarter valued at approximately $22,860,000. Troluce Capital Advisors LLC lifted its holdings in GH Research by 165.4% during the 1st quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock worth $13,926,000 after buying an additional 617,260 shares during the last quarter. Braidwell LP acquired a new position in shares of GH Research in the 2nd quarter worth approximately $5,571,000. CenterBook Partners LP grew its position in shares of GH Research by 70.6% in the 4th quarter. CenterBook Partners LP now owns 283,441 shares of the company’s stock worth $3,600,000 after acquiring an additional 117,288 shares in the last quarter. Finally, AdvisorShares Investments LLC increased its holdings in shares of GH Research by 24.3% in the 4th quarter. AdvisorShares Investments LLC now owns 67,112 shares of the company’s stock valued at $852,000 after acquiring an additional 13,121 shares during the last quarter. 56.90% of the stock is currently owned by institutional investors and hedge funds.

GH Research Company Profile

GH Research plc is a clinical-stage biopharmaceutical company headquartered in Dublin, Ireland. Founded in 2018, the company focuses on developing novel therapies for psychiatric and neurological disorders, with an emphasis on treatments that may offer rapid effects.

Its lead program, GH001, is an inhaled formulation of mebufotenin, also known as 5-MeO-DMT, being studied for treatment-resistant depression. GH Research is also developing additional formulations and delivery approaches based on mebufotenin, including the GH002 program.